218m @ 1.3g/t gold equiv: looking interesting, page-7

I got a giggle out of the retraction today. The MISPEC resource figures I'd seen for Jpang was something like 8mt @ 2.4 g/t (c/o = 0.5g/t). Didn't meet JORC complience, and the company has been careful until now to bring it up.

There's got to be something keeping interest at Jpang beyond the narrow width/ good grade results. That latest preso hinted at negotiating agreements to buy into surrounding IUPs, and they're 6-8 months past the initial schedule for defining a resource. I've been wondering how much the extra results would add to the MISPEC 660k ... which I think Snowden's put a conservative value on of $10m back in 1998 or 1999 when the POG was somewhere around the 300-350$ mark (and looks like they weren't consider the cu in that either).

At some point if they want to keep it they'll need to fork out $1m this year to refurbish a little plant. But this looks like a sideshow so I wouldn't be surprised if the board chases some new drilling results, and if these come up with a more interesting mix and volume then it might try to renegotiate that part of the deal and focus on chopping it up into a larger plant that can get value out of the cu.

... and then there's Wgiri - which is starting to really shape up.

... and then there's Hville and the other plays in NSW that I initially thought were in a holding pattern until the 30% ni increase popped up the other week ...

... but they aren't all that good with breeding big fish.

Very intriguing stuff!

COLCOM