First the facts: Aquiline (AQI.to) came out with this PR today that sets the company up nicely for its new 43-101 resource due out next month (according to the PR at least). The drilling campaign has clearly been a good one and the company conveys the feeling that the resource is very close to full definition now. The Navidad project is undoubtedly very rich, very big and altogether tasty. It's also got important support from the governor of the Chubut region, Mario Das Neves. backing worth its own weight. Anyway, next month we get to see some hard 43-101 numbers.

Now the gossip, rumours and general "don't bet on this stuff" talk. Otto was talking yesterday with a long-time friend in Argentina. Word up from the bowels of BsAs tends to confirm the talk that swirled around a few weeks ago, namely that Aquiline is the target for a large silver player in the immediate future. I want to stress that this is an unconfirmed, anecdotal rumour and so take it as you will, but I'm passing this one on today (instead of leaving the rumour on my desk, as happens with the great majority) as it passes personal tests:

1) The source is one I consider very reliable.
2) It's unlikely to be duplicity from last month's scuttlebutt. Sorry and all that but can't really say why. Suffice to say that the person in question doesn't move in the same circles as the Canadian investment world.
3) It makes sense. The timing before the 43-101 resource is good, and as seen in recent days there are large players looking to buy up the beaten-down juniors in all sectors from copper to gold.
4) I do not own any Aquiline, nor does anyody I know directly. (There's one guy I mail with in Canada that owns heaps of the thing but we haven't spoke since I got back from the beach).

Here's the 12 month chart of Aquiline FYI:


Now listen very carefully: DO YOUR OWN DUE DILIGENCE, DUDE. What I'm passing here is a rumour, no more and no less. I have my opinion about the integrity of the person involved and this post wouldn't exist if I had the slightest doubt on that score. But it's still a rumour. Got it? And as for future positioning, I'm not planning to take a piece of AQI.to personally, either. I'm quite happy with my trading portfolio right now and don't want to move much further out of cash. I'd also feel cheesy after posting like this. Nuff said. Have a nice day.