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Wow...
Seems like the gang is still here...lurking...and significantly bruised and battered. I sent a rather "frank" email to Rennie the other day venting a little and voicing the obvious frustration felt by all...
Hopefully, he gets his ducks in line...
T2
P.P.
I'd have to agree with you. I am a long time investor in Sur and believe in its potential. However, we have got to get our priorities straight. We all realize that a significant intercept is going to have to be identified via the drill before investors make a jump into this story. Therefor, I can't help wonder if building shelters for analysts and spreading ourselves as thin as we are with our trenching/exploration efforts is the best move for us. Why are we doing more IP studies etc.. when we already have a number of targets that need to be drilled? Should we not be saving our pesos for the drill rather than risk facing further dilution with another financing at these levels?
T2
OEO
I agree. I think that Sur's Columbian properties provide a very solid opportunity for us. Hopefully, Rennie decides to ramp up operations there sooner than later. That having been said I'm begining to wonder if we are spreading ourselves a little thin? We have been drilling a bunch of shallow holes in our present location...possibly missing structures that may be deeper? Really...shouldn't we be punching a hole into each of the anomolies we have identified on IP etc. as opposed to building a hut for visiting brokers, investors etc...?
Thoughts?
T2
A few people have headed for the exit with a resulting drop in share price but people have got to keep in mind that Rennie believes that much of the surface ore has been leached...Mineralization seems to increase below 90-100 meters. The fact that hole 3 was halted due to technical difficulties is disappointing in that it misses the primary zone of interest IMO...
Time will tell...
T2
P.S. compounded by a down day for the precious metals market
The share price dropped because Sur did not encounter the same intervals of mineralization as it did in hole 2. This may be due in part because of early termination of hole 3. (Mineralization is said to increase with depth)
Compounding the issue is general market sentiment as we experienced a bit of a sell off this am in the jr resource sector.
T2
I think Echarter has the potential to add value to this board...if he is willing to remain objective. (I know that I am certainly interested in his "objective" opinions.) I do however, notice that he has short changed Sur's grade by about 30%...Where did you come up with .63 g/t? (the news release says .83 g/t)...I also noticed that you've even chiseled a few feet off the the intersection!? (At 3.28 ft/meter...I calculate 223 ft..you mention 218 ft). Are you going to continue to nickel and dime the credibility of Sur with your blatant deception? With the economics of mining in the Philippines offering significant cost advantages I'm sure many investors can appreciate the benefit and the huge potential of Batoto.
T2
Dan...
Thanks for posting the feedback from Rennie...
Much appreciated!
T2
Hi Dan...
As far as I know (from my previous conversations with Rennie) Sur has all the necessary permits.
What I meant to say in my last note(Sorry I should have been clearer)is that Sur, having obtained the necessary permits before the rule change, has enhanced its value by securing this somewhat unique opportunity. Thus anyone wanting to move into the area will have to piggyback off of a company such as Sur that has been fortunate enough to get their toe in the door early.
T2
Hey Dan...
Very interesting article! This is definitely good news to companies such as Sur. Anyone looking to pursure the vast potential of natural resources in the Philippines is now going to have to take a stake in a company who was fortunate enough to get in before the door closed...
Regards,
T2
1 Billion tons of ore @ 1 g/ton translates into over 32 million ozs of gold...
<grin>
T2
P.S. Risk it however you want 10%, 20%....1 billion tons is only a portion of Batoto.
Nice to see Sur moving in the right direction...not to mention, anticipation of pending news comes at an ideal time with the price of gold moving up...
Cheers
T2
Does anyone have any idea as to the length of the first drill core?
T2
I will be very disappointed if Rennie delays the release of the results until the gold show.
T2
I hope you're right Dan...either way...no big deal.
I have waited years to get to this point... a few weeks will not make a big difference...I trust my patience will be rewarded.
Cheers
T2
Hi Ferd...
Yes, it's pretty obvious that Sprott has been picking away in anticipation of a jump. I am however, surprised that word hasn't got out and resulted in more investors jumping on the coat tail of Sprott in anticipation.
I'm not sure what we should expect on the news front over the next few weeks as we move towards the holiday season. If its good news (mostly likely based on the Sprott purchases) Rennie may hold off until the end of the holiday season...(Much to my disappointment.) Alicia mentioned that he is presently in the Philippines and will not be back until Dec 23. I guess time will tell....
Cheers
T2
Hey Link...
I too have been long since 97-98'...Pioneers?
Chuckle...sometimes I think I have rocks in my head...
Looks like the climax is just around the corner...
Sounds like we'll find out soon enough.
Cheers,
T2
Nov 19th was expiry...I too have not sold any of my shares...
Cheers
T2
Handles...
I agree...under promise and over deliver. I too have mentioned that in the past. However, it has been approx. 2 years to get to this point. I don't think that it is unreasonable for investors to expect to receive results within 3 months of a drill hitting the ground. Thoughts?
T2
P.S. To reiterate, I am still very long Sur, and bullish...as I just excercised a fairly large position of warrants to get the shares...
If drilling results are delayed beyond the end of November Rennie will have shot himself in the foot once again in terms of his credibility with investors. According to the announcement August 8, the rig was delivered to Batoto...that was well over 3 months ago! I realize that there is a certain element of lag-time to get the drills going, not to mention, potential difficulty in drilling a new formation, but if Sur continues to fall short of its promises we are going to have a tough time moving forward...
T2
Actually, I am a bit baffled as to why everyone continues to engage Eric? (Again...lets keep this link out of the playground..things are begining to deteriorate with the mud throwing)...I believe that open discussion and criticism is fine, but we should try to keep this professional (if thats possible)...Hey, I don't agree with Charter much of the time, but I think he has a place here...I also think that we can learn a thing or two from him...He claims he knows his geology (in the Philippines, however...I'm not so sure)...Rennie claims otherwise...lines have been drawn...We'll see who is right...It's as simple as that!
T2
I too appreciate Charters technical contributions...when presented in a fair and analytical manner and believe we could all potentially learn a bit in the process...Hopefully, we'll have something tangible to discuss when drill results start coming out..
T2
More food for thought..Target.
Rennie's drill program will target an area of 1000m x 1000m...with mineralized depths anticipated to be in excess of 350 meters...
TAKE AS INPUT ONLY...
1000m x 1000m x 350m = 350,000,000 cubic meters ore
(convert to tons by multiplying by 2.4/m3)
This small area within the Batoto system alone (again Batoto is about 32 sq km)...Has the POTENTIAL to return north of 20 million recoverable ozs...based on a mere 1 gram/ ton...
(NOT including copper or silver)
If Rennie pops in a couple of initial holes with consistent mineralization (half of what they have been returning in sub surface tunnels) we will easily see Sur surpass its previous high of $2 (probably multiples there of)
Long, Patient, and very bullish...
Cheers,
T2
Beneath the surface...
For anyone looking for indications as to what we might expect from the drill program...Consider the following from the last new release...
"In addition to the above results the company has recently completed rehabilitation and sampling of a 143-metre-long tunnel into the Batoto Hill called the Sabena tunnel about 200 metres west of the Clark tunnel and 500 metres west-southwest of the initial drilling area. The Sabena tunnel was developed by another company in the early 1980s."
"Initial results of the first eight metres have been received and these returned eight metres grading 1.96 g/t gold (including two metres grading 3.03 g/t gold)."
"As previously reported the Clark tunnel returned nearly two g/t over its entire 123-metre length with every two-to-four-metre channel sample mineralized to a significant extent."
Again, these are subsurface results...
T2
Anyone know when Rennie is back (he should be back this week)? My guess is that Rennie was going to travel back with the initial drill cores...Any thoughts?
T2
Linki...
I can understand the need for an international standard...no question..However, when government agencies eliminate a fundamental factor, such as energy, from the economic equation inflationary figures become skewed...and with present day levels...dramatically so...
Honestly, who believes the inflationary numbers government agencies are quoting? These numbers are so far off its not even funny...How can that possibly help anyone get a feel for the momentum of the economy?
Cheers,
T2
Why are fuel and housing not part of inflation calculations?
Just another way for the gov't to manipulate and massage the numbers in my opinion...
Consider this:
http://edition.cnn.com/2005/BUSINESS/10/01/indonesia.fuel.protests.ap/index.html
The high cost of fuel will continue to push inflation to the hilt...and gold will continue to rise...
T2
I too am confident that we (Sur investors) have the goods...
I trust that my 7 + years invested in this company will be well rewarded...
Cheers
Trev
Management has got to get its act together with respect to the website...It is so far out of date: Last information update (shares structure, cash etc...) is well over a year old (Aug 2004)...What kind of impression is this going to give new investors?
T2
http://www.surgold.com/corporateInf.html
Inco anticipates China's demand for Nickel to grow, as such, they have split the company's global operations in two in an aggressive move to deal with this increase...Demand for other base metals...including copper...will most likely follow suit. The result of which will be a big smile on the face of Sur shareholders...
Cheers,
T2
http://www.stockhouse.ca/news/cpnews.asp?newsid=4694082
Very interesting indeed OEO...
My guess is that Rennie wanted to accelerate development of its own ore processing facilities...Not only that, sounds like he wanted to enhance the size of the plant to accomodate a more aggressive production rate...
This article certainly provides a few favorable hints...
Cheers,
T2
The Philippine story is referring to the small scale production that Sur has completed on some of its high grade veins. Sur had originally sourced this ore to a local off site facility, but intends to construct a small-medium scale production facilty of its own early next year.
Cheers,
T2
Ask yourselves this....
Nigel Maund visits Sur's Batoto project and ends up joining the team months later....Nigel's brother, Clive Maund, is an analyst with his own newsletter...
---Anyone look at the Clive's website recently??
09/16/05
SUR AMERICAN - are you ready?...
http://www.clivemaund.com/
What do you think the chances are that Nigel tells Clive to recommend Sur because he thinks its a dog? (Jeopardizing his reputation and destroying his business)..."Are you ready?" is the caption....I think we are about to experience some rather exciting times for Sur.
Cheers
T2
Hey PP...
I'd have to agree with you about Columbia being of significant potential value...I recall having heard that potential on a couple of its properties (Gavia and Mina Rica)was some where in the area of 5-20 million oz potential gold targets...
However, the general impression that I have is that Batoto may in fact be substantially bigger...
Cheers
T2
Its been just over 5 weeks since the drill was delivered to Batoto...I anticipate that we should probably been receiving an update soon.
T2
(Article) Why Gold could Hit $1000 an Ounce...
http://www.ameinfo.com/67843.html
Two Federal Reserve Reports suggest Inflation will accelerate..
http://quote.bloomberg.com/apps/news?pid=10000080&sid=aKqKjTI2S2UI
Good Summary PP...
Thx
T2
I learned what Sur meant too while I was hacking around in the Amazon jungle...It means "South" in Spanish...
...My grin got just a little bit bigger today...and I must say, I'm smiling so much that my cheeks are starting to hurt...
I'm getting the sense we should be on the move shortly...
T2
If Rennie show's half of what he anticipates through the first couple of holes...We are an easy double from present levels with gold starting to take a run as it has...
Cheers,
T2