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- Thread starter jokerswild
- Start date
Here's an intresting post by another shareholder on another board:
FACT #1
So far at Langmuir #2, the orebody is 525m long by 60m wide and they have drilled down to 230m (source: Technical 43-101 reportm Feb 19th, 2007). To calculate tonnage (no, it is not 43-101 compliant by a geologist calc, but it is close enough for government work), you multiply length X width X depth X 3.5 (weight).
525 X 60 X 230 X 3.5 = 25,357,500 tonnes
In numerous press releases they have noted that they have not found the end of the ore body to the north or found the bottom of it yet, hence bringing in a bigger drill to go deeper. As I am sure that you know, since they have drilled it on 25m centers, when they hit it deeper, the tonnage will double, triple, etc based on how deep it runs (see below quote). Also, they could step out both on the length and at depth to attempt to find the end of it giving indicated or inferred resources then come back in and do the fill in drilling.
"The diamond drilling at the Langmuir No.2 Mine – North Zone has indicated a long and broad nickel bearing mineralization zone, which contains possibly 3 distinct komatiitic extrusive flows in a paleo-topographic depression with the higher-grade mineralization generally located in the basal flow but is also located in the middle and upper flows"
FACT #2
High grade mineralization has been (and continues to be) found at Langmuir #1. Per the 43-101 they have "identified a broad halo zone of greater than 0.20% Ni with several higher grade
intersections greater than 2.0% Ni exceeding 20 metres in true width". Since the release of the 43-101, they have released several intersects of 8%, 10%, 12%, and up to 15%.
Just like the all heralded Redstone, infrastructure is already in place to get to this ore, it is just much closer to the surface and based on that stellar 43-101 report just released, significantly larger.
And just like at Lagmuir 2, the ore body remains open at length and at depth (meaning they haven't found the end or the bottom).
Fact #3
"A total of seven basal till nickel geochemical anomalies are untested by Inspiration" (source: 43-101 report). With the recent financing, they are increasing the number of drills on site by 300% to not only try to find the extent of the IDENTIFIED orebodies, but also to test the numerous anomalies.
So, if we are comparing, here is a fun little tidbit. Since to date, all of the orebodies that ISM have found or identified have been near surface, they are must faster to drill. Unlike the companies that have to drill down 1000+m, ISM is drilling to 400. If you are drilling from the surface and your drill can do 50m per shift, you would need 12 more shifts per hole to drill the same number of holes.
The best part about facts vs pompous frauds is that anyone can check the facts for themselves. If you want to see the L2 orebody, call IR and ask for the PDAC handout. The map is called Figure 3: Diamond Drill Hole Location Map, Langmuir No. 2 Mine - North Zone.. In there you can also see the famous "purple and green" map showing the regional geology. The purple and green zones represent potential nickel bearing zones (with existing discoveries marked). It is Figure 2 on the map.
All of the rheotoric in the world, innuendo (Dundee is involved in collusion and fraud, that is a really classy one) will not change the facts.
FACT- Nickel shortages are not met by mills, they are met by orebodies.
FACT - Tonnes matter. Mine life drives valuation more than cash-flow as cash-flow can stop with no ore.
FACT - With 2 commercially viable ore bodies already discovered (both of which are open at depth and at length) and 7 other identified anomalies about to be drilled, it is reasonable to look at comparisons of other companies that have been bought out before they have fully identified the full extent of their holding.
FACT - As a takeover target, time to production is a major factor. With existing infrastructure in place, a ramp in place at L1, and L2 open pittable, initial production could begin quickly. Would you rather buy something that may be in production in 2011 - 2012 or something that could be in production next year?
FACT - It would not be beneficial to any of the shareholders to do a 43-101 now, especially since both orebodies are still open. Just like many others, I have heard for months that ISM was going to complete a 43-101 in the "near future" and I believe that was because management thought they would find the extent of the ore, but THEY HAVEN'T. It keeps getting bigger, meaning more tonnes. Why play your cards now and risk a buyout too low?
With just two paltry drills and a meager budget, they have identified enough tonnage to sell now or put it into production. I believe this recent placement was done as they realize it is a footrace to prove up as much as possible before an offer is made, hence the delay on the 43-101 and the additional drills.
Final FACT - Just like many here said, the recent placement was significantly oversubscribed. That is evident in the fact it closed so quickly (unlike some other recent placements I could mention). It also occured without a huge runup orchestrated by the house doing the placement.
Though I am not an attorney, I would be awful careful of accusing one of the largest investment houses in Canada of fraud and collusion to defraud investors, that is more dangerous that going short...
FACT #1
So far at Langmuir #2, the orebody is 525m long by 60m wide and they have drilled down to 230m (source: Technical 43-101 reportm Feb 19th, 2007). To calculate tonnage (no, it is not 43-101 compliant by a geologist calc, but it is close enough for government work), you multiply length X width X depth X 3.5 (weight).
525 X 60 X 230 X 3.5 = 25,357,500 tonnes
In numerous press releases they have noted that they have not found the end of the ore body to the north or found the bottom of it yet, hence bringing in a bigger drill to go deeper. As I am sure that you know, since they have drilled it on 25m centers, when they hit it deeper, the tonnage will double, triple, etc based on how deep it runs (see below quote). Also, they could step out both on the length and at depth to attempt to find the end of it giving indicated or inferred resources then come back in and do the fill in drilling.
"The diamond drilling at the Langmuir No.2 Mine – North Zone has indicated a long and broad nickel bearing mineralization zone, which contains possibly 3 distinct komatiitic extrusive flows in a paleo-topographic depression with the higher-grade mineralization generally located in the basal flow but is also located in the middle and upper flows"
FACT #2
High grade mineralization has been (and continues to be) found at Langmuir #1. Per the 43-101 they have "identified a broad halo zone of greater than 0.20% Ni with several higher grade
intersections greater than 2.0% Ni exceeding 20 metres in true width". Since the release of the 43-101, they have released several intersects of 8%, 10%, 12%, and up to 15%.
Just like the all heralded Redstone, infrastructure is already in place to get to this ore, it is just much closer to the surface and based on that stellar 43-101 report just released, significantly larger.
And just like at Lagmuir 2, the ore body remains open at length and at depth (meaning they haven't found the end or the bottom).
Fact #3
"A total of seven basal till nickel geochemical anomalies are untested by Inspiration" (source: 43-101 report). With the recent financing, they are increasing the number of drills on site by 300% to not only try to find the extent of the IDENTIFIED orebodies, but also to test the numerous anomalies.
So, if we are comparing, here is a fun little tidbit. Since to date, all of the orebodies that ISM have found or identified have been near surface, they are must faster to drill. Unlike the companies that have to drill down 1000+m, ISM is drilling to 400. If you are drilling from the surface and your drill can do 50m per shift, you would need 12 more shifts per hole to drill the same number of holes.
The best part about facts vs pompous frauds is that anyone can check the facts for themselves. If you want to see the L2 orebody, call IR and ask for the PDAC handout. The map is called Figure 3: Diamond Drill Hole Location Map, Langmuir No. 2 Mine - North Zone.. In there you can also see the famous "purple and green" map showing the regional geology. The purple and green zones represent potential nickel bearing zones (with existing discoveries marked). It is Figure 2 on the map.
All of the rheotoric in the world, innuendo (Dundee is involved in collusion and fraud, that is a really classy one) will not change the facts.
FACT- Nickel shortages are not met by mills, they are met by orebodies.
FACT - Tonnes matter. Mine life drives valuation more than cash-flow as cash-flow can stop with no ore.
FACT - With 2 commercially viable ore bodies already discovered (both of which are open at depth and at length) and 7 other identified anomalies about to be drilled, it is reasonable to look at comparisons of other companies that have been bought out before they have fully identified the full extent of their holding.
FACT - As a takeover target, time to production is a major factor. With existing infrastructure in place, a ramp in place at L1, and L2 open pittable, initial production could begin quickly. Would you rather buy something that may be in production in 2011 - 2012 or something that could be in production next year?
FACT - It would not be beneficial to any of the shareholders to do a 43-101 now, especially since both orebodies are still open. Just like many others, I have heard for months that ISM was going to complete a 43-101 in the "near future" and I believe that was because management thought they would find the extent of the ore, but THEY HAVEN'T. It keeps getting bigger, meaning more tonnes. Why play your cards now and risk a buyout too low?
With just two paltry drills and a meager budget, they have identified enough tonnage to sell now or put it into production. I believe this recent placement was done as they realize it is a footrace to prove up as much as possible before an offer is made, hence the delay on the 43-101 and the additional drills.
Final FACT - Just like many here said, the recent placement was significantly oversubscribed. That is evident in the fact it closed so quickly (unlike some other recent placements I could mention). It also occured without a huge runup orchestrated by the house doing the placement.
Though I am not an attorney, I would be awful careful of accusing one of the largest investment houses in Canada of fraud and collusion to defraud investors, that is more dangerous that going short...
mobro said:
this particular quote is from stockhouse...
Joker - just a quick thought, some of the companies listed on the TSX drilling for nickel are below - along with today’s stock price:
http://www.tsx.com/en/listings/sector_profiles/mining.html
Not one of these are over $10pps, dont want to sound like a doubter - am not experienced enough to yet.
considering these figures are shared by some of ISM's TSX competitors they dont give any indication that we will hit $(20 - 30 - 50) etc
My thought process would say that if these companies were achieving higher stock value, then theoretically we could also at least increase the ISM value ongoing as positive results are posted,
Your thoughts?
http://www.tsx.com/en/listings/sector_profiles/mining.html
- Jaguar Nickel Inc. JNI 0.22
- International Nickel Ventures Corporation INV 1.46
- First Nickel Inc. FNI 1.34
- Victory Nickel Inc. NI 0.78
- Mirabela Nickel Limited MNB 5.35
Not one of these are over $10pps, dont want to sound like a doubter - am not experienced enough to yet.
considering these figures are shared by some of ISM's TSX competitors they dont give any indication that we will hit $(20 - 30 - 50) etc
My thought process would say that if these companies were achieving higher stock value, then theoretically we could also at least increase the ISM value ongoing as positive results are posted,
Your thoughts?
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