you sad bastards

My post this morning got dragged, so I'll try and tone it down a little.

As a geo who holds Sipa dear to his heart, it is not recommended that I log on to Hot Copper and read the nonsense that passes for informed comment, but here I am again like a moth to a flame.

What irks people who work in grassroots exploration is how little the wider investment community know about it. 95% of junior companies (including VRX to whom Sipa have unflatteringly been contrasted on this site) drill the crap out of a known prospect which was a dog last boom, the boom before that and (wait for it) the boom before that. Nothing changes except the mugs left holding the baby when the merry go round stops. "Informed investors" like this kind of "exploration" because they understand it. Nice sounding drill intersections are guaranteed to flow, never mind if there is not a snowflake's chance that the dog in question will ever get mined.

Enigma, on the other hand, is a genuine grass roots exploration play. What's more it is under transported overburden (cover) making drill targeting that much harder. Therefore, Sipa's understanding of this exciting new find, and the flow of information to the market is, necessarily, iterative. Yes. Iterative.

Drilling reveals a little bit more of the puzzle and Mike dutifully announces this information to you in a timely manner.

He has done the same thing for 25 years. Honestly going about the business of grass roots exploration and announcing the results as they are with far more geological context than you will ever get from 95% of junior companies. Far more geological context than you will ever understand.....And that's the problem.

A gaggle of old men (I presume that the regulars on these posts are old men with nothing better to do) sit around and pretend that they understand the business of exploration. Some would claim that they understand it better than Mike does. Get off your computers and go and do something useful. You are woefully uniformed but that is no fault of Sipa's.

In the current climate of black, red, and green tape it really does take seven years to find an Enigma and more time after that to understand it well enough to poke the money hole in to it. You are damn lucky to have found a company patient and honest enough get this close and still beavering away to get the result everyone wants. You should be cheering rather than whingeing.


Yogrogan