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A couple of things
Mar 04, 2008 04:52PM
Its been a rough ride so far this week and its a good time to ask if you are really a LONG or 'just as long as the ride is smooth' type investor. Between yesterdays drop in the market, and todays drop combined in with plummeting gold prices spec stocks took a hit. With a news release that was absent DD results we had no momentum and took it on the chin like everyone else.
CPQ is one of my bigger plays and on todays like today I wish I could hit a red panic button on my system that would lock out my trading account for a day or two when things are bad. Its painful to watch a stock you believe in take a beating. I think everyone questions their wisdom in staying in but at the end of the day nothing has changed. The deposit is shaping up into an ore body and daily price fluctuation aside we will end up as either a mine or a take over target.
Infill Drilling: This will be determined by geostatistical analysis but I expect that it will be on 50m centres. With inclined holes and 50m centres we get a pretty good sampling of the deposit and the inter hole consistency appears to be pretty good.
Drilling Rate: RC is about 50m a shift and DD is about 40m a shift. Every drill program I've been involved with has run 24/7 (2 shifts/day)but some programs run on a single shift. A good question for someone to ask the company.
Assay speed: Companies typically send their samples in to the lab in batches every week or two. Add to that that many labs are running a 4-6 week delays for results and we have a slow output until the pipeline is full. I expect results will start to come faster now.
Poster's on CPQ -- come from with a wide background of knowledge and experience. It's what makes a good board. No doubt written communications can be mis-interpreted or people can be sloppy with their posts. In this environment you have to be willing to be tolerant of mistakes and different viewpoints and give people a chance. Either that or we are going to see an empty board pretty soon.