that happycats is one smart cat!, page-49

Thanks for your thoughts CrimsonCarp. Much appreciated.

I must say, I was shocked this morning to suddenly see photos of the Hole-1 porphyry looking as bland as that, when most of what we had seen before was an obviously highly mineralised, vuggy, sulphidic, brecciated zone shown from 474-476m in the release of 29 January, and from 474-476m on 6th September.

I had assumed that there would be a great deal of that sort of mineralisation elsewhere in the hole, but todays photos did not show any.

I agree, it remains a very promising project, and I took pains to outline why I think so in my comments. But those photos made me (and I am sure a few others) realise that my imagination might have got a bit ahead of the reality here. Apart from that very obviously mineralised section shown in the release on 29 January, appreciable grade elsewhere is far from certain.

Yes, the visual geological descriptions do sound very encouraging. But geologists are optimists by nature, and can get somewhat over-enthusiastic in the heat of the moment, when they feel they are participating in a world class discovery. I have seen an ASX release describing visible gold in drillchips, that then had to be retracted when the assays came back with nothing, because it was just pyrite. And that was logged by a geologist MD, not a junior fresh out of college.

It was bloody tough to see the extent of today's pull back, even if I was out. You can just feel the pain!

But I don't think those core photos may have had a great deal to do with it. The fall had already started yesterday. (The photos might even have been an attempt to halt that decline).

And I honestly don't think anything that is said on this chat site is a significant influence on the market. Not when $4.7 million of stock has changed hands, and most of it has been downhill all the way.

Anyway my, ahem, that's five point four cents worth for now! Time for bed.



(Pay no serious attention to my thoughts here. I am not a financial adviser, and this is not intended as financial advice)