I even feel vindicated for falling in love with this company!! There is still lots of work to be done but the NR today is substantial. My favorite paragraph is this:
Hole NOT-09-049, drilled down the mineralized structure at Eagle One, proves that high-grade nickel- copper-PGE mineralization continues well below the previously interpreted resource limit. We are currently re-evaluating our planned exploration for the remainder of the field season with a view toward aggressively pursuing resource expansion at Eagle One
For them to be able to say this in the NR, it means they have some compelling visuals to satisfy the TSX-maybe even reading from the XRF (?) device. So we now have 3 pearls from the string of pearls that we once discussed in theory!!! The model that I believed prof Mungall proposed came to life and I bet he could not be any happier. Cudos to you Prof Mungall, you deserve this victory!!!
We still have a NR to come but besides news regarding options to our new CEO I do not know what else to expect. This NR covered alot of material and I will need to read it again and again to fully absorb all of it. I have also been re-reading the 43-101, some great info in there for those that may not have been around at that time. As much as we are excited here, I wonder if everyone is getting how significant this information is.
Before the financial meltdown and the plunge in base metal prices, Eagle 1 by itself was worth $3 per share (we had a smaller share float at the time) but it was argued that it was worth nothing as long as it was not economical to mine. It seems now that we have crossed that threshold of economy and a mine is looking very good at this time. Once the assays are in and confirm what we already believe-that this is from the same source as Eagle 1 and hence has similar grade-this stock will go up substantially.
The next few weeks should be very telling on how the big boys think of this info but once the assays come out, if they confirm anything close to Eagle 1 grade and thickness, this thing will take off and we may see something close to our previous highs less the higher share float and lower commodity prices.
Goodnight everyone,
Glorieux
