Some of us actually have a life Eagle and unsurprisingly as per usual you couldn't possibly be more wrong, quite an innate talent you have there. Let me know what you bet on in roulette at the casino as I'll go the exact opposite way each and every time
For starters just an interesting tidbit to hopefully final dispel all the conspiracy theory crap from some people on here about holding back results, etc, they're still waiting on some lab samples from that first round of drilling which were submitted to the labs back in June
1. Unless there is an extremely attractive takeover offer, the company intends to develop the resource to a potential mine themselves and if necessary at some later stage take on a partner if it proves to be a less straight forward project than what's anticipated.
2 The metallurgy is the whole box and dice so to speak and determining the the best method of extraction and processing and recovery will be an ongoing process, they believe they have the geological / resource side of the spectrum covered.
3 In relation to the resource side of the equation, there hasn't been a single traverse that has been a dud there has been gaps in the mineralisation between some holes on various traverses but not a single one so far has come up empty.
4.The drilling program will be extremely extensive and they'll be going hell for leather for as long as possible with the tenement expect to dry right out over the next fortnight, they've been drilling but some areas haven't been fully accessible yet as a result of the extensive and extended winter rains.
Due to the sheer scope and intensity of the drilling program it will be costly and they also intend to do a pre mine feasibility study but regardless of the drilling program's cost there will be plenty of money left over for the study.
5. Assuming the metallurgical results are favourable as they believe they will be, they will be aggressively pursuing government grants and the various forms of assistance that are available.
6. The average parts ppm reading across the tenement is currently around about 1000ppm they expect once they do more drilling and more specifically, targeted drilling, that this average figure should again increase substantially.
7. Linzy I was told it was way too early for FEED details etc and the company is in the the process of transforming from a smallish hands on type company and will be taking a more active marketing and information presenting focus as results continue to roll in and build momentum but they are well aware of what technical requirements and plans that will be needed to bring what is currently a potential commercial resource to a fully fledged operational mine but like I said everything hinges on the metallurgy currently.
8. Management appear to have ambitious goals and believe that at the end of the day so to speak they will have a large very commercial high quality resource assuming of course that they continue to successfully tick off the requirements needed to prove that they have a viable commercial resource.
9 A major advantage they over their neighbours is that they have (as mention on the above presentation) a high percentage 47% of the valuable Critical Rare Earths (CREO.) which apparently at the end of the day will prove to be far more important than the total amount of rare earths (TREO).
The presentation above is well worth watching and is the same information that we were shown today following the machinations of the meeting.
Bottom line is that there is a bunch of extremely excited, enthusiastic, geologists, businessmen & money men who firmly believe that they're on the verge of a new mining frontier, they're excited about the challenges that still lie ahead and are extremely motivated to succeed.
Their already extensive information database and geological understanding of the tenement is increasing by the day, new technologies are being embraced and used to advantage and they're confident that this whole area outside Esperance including our 3400sq km tenement will likely become a highly significant rare earths region.
I asked about the share price and they expect that to trend upwards in the New Year and again stated that the options have been holding the price down, there may well be a few rough weeks between now and Christmas as there are quite a few shareholders who picked up options cheaply who may be happy to take a profit but that overwhelmingly they expect these people to be in the minority as most shareholders appear to be in this for the long haul.
Put it this way I came away from today's meeting more confident than ever about the company's prospects and fervently wishing that I had another $50,000 that I could throw at it in order to snare another 10m shares at the current price.
(20min delay)