hi all, yes agree - I won't guess on the price with validation -...

hi all,

yes agree - I won't guess on the price with validation - but, do agree that a lot won't buy only on xrf and will wait for assay.

I have always been happy enough to take a position on xrf readings - this is my reasoning -

The knowns -

a. you know it's whatever metal the gun tells you -- clearly in this case nickel in sulfides

b. as long as you have a geo who is capable of using a measuring tape - the gun will give you a pretty good guide to the length of the core where it sees the metal


In this case - for me - well, 17 metres of 'something' isn't a fluke ------ I doubt if God (or whoever built the joint) accidentally dropped a large dollup of nickel sulfides on the way to putting a deposit some place else --
in short - there is something here - just how much and what grade really is the issue - and, for me -- 17 metres - well, - measure out 17 metres - it's a solid chunk of dirt


So - when the assays become available - it will be clearer - but, the picture is there already - albeit fuzzy.

The 'punt' of course - is - how much is here and what % - already, we know that this hit is shallow - and, that's a hell of a plus at this stage.

Is a punt like this worth 50 mil? or 100 mil? - well, the story has to develop more yet - that's sure.


The risk is --------- if this is a good solid find - and, these nickel things do have a habit of being large when you actually get one ------- so, the risk is - that if they put a drill down here and it comes up with high numbers - then, unless you are in - well, you will have missed the bargain basement sale prices.

On the other hand - if it turns to bugger all - well, you could see the price retrace to where it was before this morning.

That said -- they have other doings going on - and, this find today - may well support the price at least - until some of the other holes come in.

None of this stuff is ever easy - unless you are the sort of person who is already in this before this morning - or you got in today - and, basically you just don't give a fig what happens - you just stay in for the ride - if you lose you lose - but, if it's big - then, well - obvious.

I wasn't in SIR, but, I had mates that were - I think??? from memory it went from about 5 cents - I had mates who got in at 30 --------- so, it was many hundreds of percent up out of the blocks already when they got in - but, boy oh boy - did it hit the turbo from there.


here's a chart of how these things can go very very fast --- not bad from 5 cents out of the blocks eh?

these things are always a punt - but, if you get one -- hang on to the hat