I'm back from a day away from the desk and what do I find? :o|
So... it would appear that we have a very confusing press release. I haven't yet had the time to digest it in too much detail, but of course the one thing that immediately hits me after a quick scan is that Hole #1 (our great IOCG hope) appears to be fairly worthless with "sub-econmic" levels of copper and frankly not much else to take its place - no gold, no silver, no uranium, not even any magnetite LOL. Meanwhile, Hole #2 has at least shown some promise with REEs, but Geo_newfie doesn't particularly like the look of those results and even Ken can only manage to come up with the adjective "interesting" which is hardly at the "set the world on fire" level of descriptions for what we had hoped might be a world class economic deposit. I mean, I find random patterns in clouds "interesting" LOL, but that doesn't mean they're ever going to make me any money.
Now OTOH we have these additional claims staked yesterday before the PR that join up old Rusty with Shaylee to make one big claim of nearly twice the area of the old Rusty. Geo has suggested one possibility - that it was a last ditch attempt to keep a sell off at bay - and I must admit that this occured to me too. But then if this was the case, why would they not announce the claims in the PR? I know these guys are not the best at writing PRs but I have no doubt whatsoever that I could have written a much more upbeat PR that included the additional claims and focussed much more (or maybe even solely) on Hole #2 if I had wanted to pull the wool over peoples' eyes. So on reflection I do not think that this is the reason for the additional claims.
So where does that leave us? Results thus far for RR are poor. More results for RR are to come. RR has been massively increased in size. No news as yet re the BVIG distribution or HC PII drilling start date. And the PR we have received seems to ask more questions than it answers.
I am very disappointed that we are back to February prices. Well done for those that sold in the teens and twenties. For those like me who held all year, my deepest sympathy and I know how it feels because I'm there too. There is still "hope", and in fact I am more excited about HC in the last few weeks than I ever was. But as for RR/Shaylee - well it's exactly what Ken says it is - "interesting. I'd like to see another PR from Ken in the very near future that can maybe help us investors see how "interesting" might be changed to "exciting" or dare I say it "valuable"!
I am still in, but I would be lying if I said I was happy with the results themselves or with the PR itself both in terms of content and timing or the more general level of IR communications over the last 5 months since July. This could still turn out fantastic, but rabbits need to be produced out of a few hats at a fairly brisk pace now for that to happen LOL. My only assumption is that Ken truly is keen on the REE results and thinks that he can make us all some money from a REE play, hence the additional land claims around the area.
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