where are you going to go with this now?, page-5

Thats a good question Happycats

I have been fully committed to other matters all day, with zero chance to look at the markets and follow the ICG action. after reading this mornings announcement, it was plain to see that ICG would be hammered by the market for under-delivering with grades. Without any opportunity to access markets, I decided to hold out to see what happened. So 90% of my profits gone .... thems the breaks! I suppose others who bought higher are worse off!

It has been a very interesting few weeks, highly enjoyable actually. But I became quite concerned when others began to get so crazily bullish ... you know, the "purple" debate? I am a bull, but things began to get so ridiculously out of hand, that I almost sold after that ... should have followed my gut!

Anyway, certainly will be interesting to see where she goes from here. I have two positive comments:

1] There could be some interesting short term trading opportunities for those who can trade on technical indicators. So some profits are still possible from that angle IMO.

2] Secondly, I was surprised at the very bullish comments in the report regarding the shallow breccia mineralization. IMO, the future prospects of Chanape lie in them being able to exploit the surface deposits. Quite often large porphyry deposits are accompanied by exploitable shallower oxide deposits richer in gold, that have occurred via the alteration activity feeding through the breccias. There certainly exists potential to increase the size of the surface deposits beyond that of just the narrow breccias. They effectively only have two drills into this mountain, so huge potential still exists. Even the porphyry is so large, and with only ONE drill hole, there exists so much more possibilities to explore for higher grade zones. As has been mentioned, this is still a very exciting find, and can be counted as very successful in that after just ONE drill hole they have confirmed a porphyry find.

That being said, it does little in providing solace to those in the RED! As there exists mega work to fully explore Chanape to its potential.

If I was home today I definitely would have sold my holding. I will play it by ear from now on, following technical signals as to what to do with my holding, and will also look for other opportunities to trade for some extra profits. I will certainly look with interest to see what management does with this ... ie: Raising capital, next exploration programs, and how they spin this to the market.