Just got back from the scrub so i have just finished reading the posts. First a history lesson as i, in my life have seen it. Posieden, their share price exploded due to greed and mass hysteria which was unsustainable & eventually when the collapse came it killed off every other mining share including the big names. The discovery of Nickel at Mt Windarra was unusual due to the orebody lying under a banded iron formation ( BIF ) and in WA there are thousands of the same formations. Nothing was wrong with the discovery itself, WMC made a great deal of money from it. It wasnt a scam. Forward to 1987 and the great crash in October, this was once again the result of greed & mass get rich quick ambitions.The contaigen spread from Wall Street to the rest of the world. As far as the sharks that cruise between the real estate and mining industries, they have always been there, ( i have held ground in what are now multi million dollar operating mines,) Met the wrong people and ended up with nothing. If these people were taken out to sea off WA and thrown overboard its the White Pointers that would come off second best.( like to try it though ).Back to the present, Nova is a discovery in what is shaping up to be a new mineral province that roughly runs paralell to the other mineral provinces of WA. Its very very early days for this whole region but a fantastic potential is a real possibility. Patience, without greed guys. PS spoke to someone last week who has an interest in the area and he was under the impression that gold and nickel do not co-exist. Wrong, apart from Long Shaft in Kambalda every other mine in the Kambalda dome had gold, sometimes ounces to the pound, i have held lumps weighing kilos.Kambalda ( original name, Red Hill ) started off as a gold mining centre in the 1890s. Nova, different geology but sniffs of gold found on strike.
SIR Price at posting:
$3.09 Sentiment: LT Buy Disclosure: Held
