I'm sure everyone has already read said news...I must say that some investors were somewhat disappointed with the tonnage figures given for proved and probable reserves for E1..Remember this is just for E1...E2, and limited amount of drilling, and still open at depth.... In my view NOT will likely add substancial tonnage, to their existing tonnage...Apperantly NOT might get a concentrator and do their own mining...this seems to be a "new" strategy for NOT, and all the reasons for this new strategy are not clear as yet...
Not News also mentiioned the existance of lower grades disseminated sulfides, surrounding these HIGH grades areas, and as well, it makes mention of "other players" "hits", and the good probabilites of finding much more tonnage all around McFaulds...
One of the reasons I highlight these points from the NR today, is to bring to everyone's attentiion of SPQ Jv's Chromite, PGEs, Ni Cu discoveries, described as an extension of NOT's E1, and E2...In addition, SPQ's McFaulds East and West claims, with at leat 10 VMS discoveries, so far with many more anomalies to still drill...We were informed at the AGM that a 43-101 is now currently being prepared for these....
I suppose to get to the important point, McFaulds will likely be a series of numerous smaller players claims and "hits/deposits" that will certainly add to the total tonnage of McFaulds...be they MMS or VMS , or any other type, as long as they are deposits with proven reserves...I believe that this NR today will begin the process of investors looking at other players at McFaulds, with LARGE land positions and some deposits with proven reserves....I can tell you from my extensive McFaulds research, that SPQ is one of the BEST...
all of course, as usual, IMCO
JD*
