Assays for holes #9-11 have been moved to another lab that promised results in 5-10 business days, they started on them last Thurs/Fri as far as I know.
From what I have been told, holes #8-#11 will be released all together, with no halt. Thank-you! We do not need a reputation for unwarranted halts unless something truly mind-blowng transpires.
Holes 9-11 contain similar looking mineralization to hole #7, and occur at roughly the same depth, so I will make the assumption they will all "run" much like #7 did. This of course is speculation, and the assays will prove the "bet".
My source was told that there are 2 majors waiting in the wings to take positions, but they want to wait and see the results of step-out holes 9-11 to confirm that in fact they are sitting on a deposit, and not just an occurance (aka: one-hole wonder). Nobody likes to get burned by one-hole wonders. Watching GXS this morning? Ouch.
Hole #8 apparently contains encouraing mineralization, and the belief here is that it will run as well. I remember hearing last month it contained 7% pyrite as opposed to 3% pyrite in hole #7, and my "bet" here is that it will run, but again this hole seems to be on a seperate anomaly and they will want to prove up the first one before moving the rig over to bang out additional step-outs I would imagine.
There is 1 MIL cash in the till... warrants are being excercised daily, although I suspect they will put on a financing in the fall, maybe Sepetmber. This is my opinion and best guess only. I do know financings have already been refused, that is fact, at what price? I have heard around the $1 mark, but that is rumour only.
Holes #12, #13 are being plotted over and below hole #7 in order to test the "dip" of the ore body, the last piece of the puzzle needed in order to begin to calculate tonnage.
I find it very bullish they are pressing on with holes 12, 13 on a drill program that originally was supposed to be 6 holes. Says it all right there.
Kidd drilling is supposed to begin this week. Apparently a rig needed a new engine, and the manufacturer delivered them a damaged unit, or something..... Anyways I heard they are on track now...
In the meantime I will continue to pick off weak retailers in the low 50's. I am very confident this strategy will pay off in spades in a couple of weeks.
I bought more this morning EARLY instead of LATER to avoid "putting the lipstick on the pig", but I know the best deals always seem to come in the last hour. If dummies want to dump shares at .51 cents you're damn right I'm going to scoop them.
Good Luck.
