it is obvious there is no gold at doleraine and at eureka!!!just...

it is obvious there is no gold at doleraine and at eureka!!!


just think about some of the following points.

1. the company announces on aug 3 that drilling has commenced. mxr deem this to be price sensitive information

2. if announcing the commencement of drilling, then surely intersecting the reef, would also be price sensitive. it seems that the gold is associated with quartz - which is easy to indentify. drilling has been going for two months (probably almost completed), and no such report.

3. seven weeks after drilling starts, the new director lashes out and buys $5000 worth of shares. she obviously cannot risk buying, on the basis that she is aware, that the reef has been intersected == so after 7 weeks, it is safe to assume that no reef system has been intersected at doleraine, and eureka.

4. several years ago, when mxr drilled their first hole at bih, and when they intersected the reef, then this was reported to the exchange. just by way of another example, it was only the other day, that mgy intersected significant sulphides, in a hole - and this was obviously significant and the shares tripled in price. the bottom line is, that the sulphides could be barren - but to find sulphides, is 100 times better than not finding sulphides.

5 the argument that because mxr found more gold at bih, and by the same reasoning, the same can be expected at other mines - is a bit too simplistic. Mxr drilled the ridge mine (near bih), several years ago - and the results were disappointing,

trying to do a comparison between mxr and dmr (post by mowibble) is simply a waste of time. dmr seem to have a high grade prospect, right next to the highway, and within trucking distance of a mill - ie if not enough ore is found to justify a mill, then that is not a real problem - just put the ore in a truck and send it to the nearest mill, mxr have no such luxury. there will probably be a lot of opposition to any proposed mining in the district

ero, a sister company of mxr, also thought that they would try the alluvial gold plan - ero, paid heaps for a operation - and ran it for a short time, and have decided to put it up for sale