Hole #10 is a Beast
Karmanow2
2/15/2011 2:00:17 PM | | 160 reads | Post #29279129
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Hole #10 is a Beast...Just to give you some perspective on it...
When you add together the total results for Holes #1, #2 and #3 you get the following comparison in million tons:
Measured Indicated M/Tons KCL Inferred
Holes #1+#2+#3 6.14 48.72 12.73 152.7
Hole #10 10.83 86.18 17.12 170.0
The BEAST to the East may end up being the BEAST in the Center
Three things I know,
First it is nice to have a vote of confidence from Stockta on the numbers and comparison to Intrepid Potash long term, for some here you may not know how important that has been.
Second, Stockstag...you think you were shakin reading 1.3 Billion Tons and a stock price of $69....imagine trying to use a calculator and then have to type in the numbers...it took me a few trys...lol
Third, Fair is correct, hole #11 was shallow and will prove up the south west corner...but getting 2 more holes above and below this beast is critical and will define the highest density of potash on our property....I know that hole #13 is planned 2 km north of hole #10 and on one map I can see a red dot indicating future drilling 2 km to the south of hole #10...one of these future holes will likely have similar values as hole #10. It appears again that we may be ahead of Mr. Market as these results are stellar and reinforce the north to south trend of Ms. Haro.....anyone think Farhad can not make a good deal for shareholders should think again....$2 million dollars and pulling in over 250 million tons of potash to our resource!!
Another note to ponder is the likelihood of being taken out by a major. We assume that it would be after the NI Resource Estimate in April and up to the Bankable Feasibilty Study by years end....so
If the last take out by K + S Germany for Potash One paid $3.23 cents per Proven and Probable ton in the ground
we can assume in April with an NI Resource Estimate of
583 million tons Measured +Indicated x $3.23 per ton = $1.88 billion / 200 million shares = $ 9.40 per share
So between April and Dec of 2011 the take out price will have to be over $9.00 per share just for the proven resource in the ground....and we will not dilute shareholders with financing until after the Bankable Feasibilty Study so using existing 200 million shares is logical.
Do not sell your shares....hold on and watch how Farhad moves us forward...one hole at a time...one million tons at a time...and one mine at a time..
Karma
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