Good morning FWR folks.....I just called FWR to ask the IR dept a couple of questions....the receptionist put me on hold for a bit and Mac came on the phone....lol....perfect! I was too busy concentrating to take notes, but here's what we chatted about.
....There is no drill on the JV. It's been pulled. There are some assays being done but he's not holding his breath. If they came up with some gold then they would revisit the bullseye.
....They have a drill on F2 and one along the border by A12.
.....They have results from some new geophysics that shows 'great' depth to the chrome area....several kilometers deep.....doesn't mean that it is all Chrome....but he feels this is one of the worlds biggest, if not 'THE' biggest deposits of it's kind....in the world!
.....He views the NOT takeover attempt as a 'desperate' move on their part....possibly because they're not hitting other Ni/Cu deposits. We chatted about why they would try at this point(for takeover)....he mentioned that the fund(s) behind NOT as pushing them into it.
Mac...."there is no way in hell that NOT is going to get the needed shares for takeover!"
.....I asked if having Cliffs in the background precludes a different major becoming involved? I said I was asking because he mentioned a third party. He said very quickly that having Cliffs there does 'not' preclude another major in the background.
.....back to NOT's motives for takeover....we talked about the 'desperation' angle and that being the self-proclaimed 'KING" of the ring, they are seeing that slipping away as FWR and others increase their deposits, and in fact become big enough to go it on their own....especially if there was a consolidation of the chrome deposits. NOT could be left out.
.....they have about 400 assays out for platinum and palladium....I don't think these assays will cover all the 'iums'
.....he doesn't dismiss the possibility of there being a unknown(undetected?) reef of PGE's down there. He mentioned something about a sulphide zone in relation to that, but alas I can't remember that detail.(sorry JD and hoov) I was thinking of you geoguys.
.......If something else pops into my memory bank I'll post it.....but that seems to be it.
....I'd like to thank Mac for being avaliable and open to a chat. If I have misrepresented or misquoted you in anyway here.....I apologise.....I am but a humble scribe on my 1st mug of tea for the day