Movement over Christmas, page-14

Nah scottwilliam and others, I have not sold out ..and in fact have luckily managed to pick up quite a few of the scarce MPJ's transacted at exactly 0.004 since the announcement. MPJ's, and not MPJO's.

My apologies for being conspicuously absent but I have been away and only had a useless computer tablet with me, the laptop being on loan. Those tablets are only good for occasional checking of emails and market prices/transactions (on the rare occasions they are in range of a tower) and not for typing anything more than a few words so it has been very frustrating. Good to be back from the bush now.

Have been monitoring the HC comments here. I think that it is one of those announcements where one has to read it, go away and come back and read it again to see what they are getting at.

Those who favoured the news-silence of nearly 3 weeks suggesting that 0028 produced nothing were correct.

However I cannot help but feel very sorry for MPJ with this hole as not only did it hit nothing significant but the blockage prevented any DHEM. Not much of a Christmas present for MPJ management who are trying so hard. I may be wrong but it also suggests to me that whatever is at 0028 cannot be especially big. If you aim for the centre of it with 0028 and get nothing then it is hard to see it as the next major world find.

Obviously they are working their way through the conductors. Holes 29,30,31 chased conductors NN_C1/4/5. Nothing much in them, except for a strong off-hole conductor in 0029, below and to the south of it. This was a test of part of the westerly ultramafic sequence, which now seems potentially less prospective than the eastern (interpreted) one.

Hole 0032 at Copter Cove demonstrated the fertility of the easterly sequence, finding trace nickel but it is claimed as only being a first pass in this northern extension of the eastern sequence. It apparently did not hit the conductor RHC14.

The big question to come out of this announcement was why did Neil say "these results are an extremely exciting development..."? He appears to be talking about the drill results and DHEM at 0026/27 and 0027 in particular. At first glance I was not that impressed but taking further looks at it and the modelling of fig 5, it gets clearer and quite exciting.

It might be said that all the money that went into these recent holes with their underlying "disappointments" if it were to be attributed to 0027 would have been worth the cost. "Broad zones of blebby and disseminated nickel sulphides"...plus some stringy. All just 1km north of ROE114.

Three NiS zones in 0027 with the largest a whopping 50m (320m - 370m) DH. It has been claimed that deposits of massive NiS are often surrounded by such a "halo".

This Fig 5 conductor is obviously right on the basal contact so ticks that box... but yes it could be other things, but somehow they seem less likely here.

The road to massive success is littered with disappointments... but at least this little less than encouraging batch has been offset by what the easterly interpreted ultramafic channel at Talc might just be!!

It almost suggests that in the past they have not really been looking in quite the Best Spot... the Easterly Ultramafic flow now blasts onto the scene as maybe being where the action is really at!!!

Neil says it is now "interpreted to be the main basal ultramafic flow". A big call with big implications. The first effective test of it has spectacularly and surprisingly come up trumps. Pretty impressive effort for the team.

Again sorry for the delay in posting but the other side is that it has also allowed a more measured understanding of it all, rather than just a knee-jerk disappointment at 0028 and its difficulties.
The SP might have taken a back step but that might also reflect a complete misunderstanding of what this announcement is really saying!

More interested in 0027 and the East Talc Channel now than Roe 2. More twists and turns than The Great Ocean Road in Victoria. A big prospective area to explore with limited funds makes it important to have the best team on the job. May Santa bring MPJ shareholders a fortune in 2016, and lots of Massive (as opposed to blebby) nickel sulphide for Neil and Sarah and the gang too.
cheers to all, PP