@Flyingcactacus
WHY LIBS ARE NOT THE BEST WAY TO RELAY A MESSAGE TO SHAREHOLDERS!
Yes, I guess they can communicate what a hand held device tells them to the shareholders via an ASX announcement, however from looking at the below examples from
July 24 and then
Oct 24 for the ASX listed
James Bay Minerals, of what they announced in
July 2024 and then in
October 2024 probably reveals why it should not be relied upon too much.
Assays are the best and only accurate method IMO. Now, I’m not saying James Bay Minerals will not be successful, but I think they relied too heavily on LIBS results in the field and photographs.
Look at the map from July then in October. The July map was all exciting with all the mapped pegmatites on show. Yet, where are these mapped pegmatites in the October release? Nowhere to be seen on their map. Why did they no longer display the pegmatites they did in the July announcement? Yet, instead, they have shown small circles in the October announcement on a fairly empty map, which show very limited quantities of any samples over 120ppm of lithium. There are also NO assay results!
es of any samples
over 120 ppm of lithium.
NOW LOOK AT 28 OCTOBER 20024
Then this from a response to an ASX query with the company: ( It is only a snippet of the whole announcement, which mainly focusses IMO on a shift towards a gold acquisition they seem to be moving to)
”On 14th October 2024, the Company announced the proposed acquisition of the Independence GoldProject in Nevada, United States. The Company believes the increase in share price is a result ofthis announcement, combined with the significant increase in gold and silver prices during the sameperiod.At the time of receiving the ASX Price Query the Company had received assay results for 73 of atotal of 193 rock chip and channel samples from its La Grande Project in James Bay, Canada. Theset of results were incomplete, and the Company was awaiting the balance of the assays foranalysis and interpretation. The pending results were subsequently received on 24 October 2024and are announced in conjunction with this ASX Price Query response.”
LONG STORY SHORT:
From this last paragraph quoted from a late October announcement of this company working in Canada, they have not yet released Assay results, but were happy to release LIBS hand held readings, with photos.
I would not be relying on LIBS to relay success to trusted shareholders. WAIT for Assays!
(20min delay)