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Message: up .5 cent today..eom

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Re: up .5 cent today..eom

in response to Re: up .5 cent today..eom by jamestown

posted on Oct 27, 09 02:40PM

The company has drilled a significant level of holes over the past few years. The problem is that nothing significant came out of it and doing more drilling takes more money which they are out of for the time being.

The two projects of focus for the company since 2005 has been Langmuir and Abitibi East. Both are basemetal plays which are out of the loop for financing opportunities. Both projects were drilled adequatley enough to determine thier present day value with Abitibi East coming up totally empty and Langmuir still being a big maybe.

Both properties are now in limbo and thier next best bets will be on Horwood and Eastford Lake. Again both of these projects are grass roots and need signficant capital to move them forward. The problem is they just wont know for some time yet what value these two have as well.

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