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poorhatsoap

880 Posts.

16/10/15

10:57

Post #: 16190315
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Originally posted by PoetPlus ↑

The one week deferment in drilling commencement from week starting 12th Oct to week starting 19th suggests to me that Dr. Hill is doing an independent review and interpretation of the data.
It is good that the drilling contractor has been able to accommodate this schedule interference. Plus he has a dual RC/Diamond rig which may cut costs too.

The wording of the announcement might be said to imply that the contractor has initiated the delay but I don't think so.

Diamond drilling is expensive so no joy in proceeding just for the sake of warding off armchair critics concerned with a few days delay. You drill when all agree that it is the place to go for it and that includes Dr. Hill who is now on the team. It may well be that he says "no you have it all wrong and that is not the place... we should step out another 100m to collar.. etc" Could make all the difference between MPJ holders being millionaires or not.

So more time before sinking the bit means more time to think in-depth and get it right... go over it and over it, use the large MPJ accumulated komatiite experience to model and re-model but.. get it Right.

Don't drill to find out what is there.. drill to confirm what you KNOW from MPJ's vast experience of komatiite flows IS there!

The Roe Hills tenement is considered essentially unexplored below 150m depth vertically. (Annual Report page 9)

Re-reading the announcement of 10th Sept regarding Roe 1, it can be seen that Roe Hills is regarded as an inter-related system. Structures at Talc Lake are paralleled with those at Roe 1.
"At Roe 1, 25km to the northwest, the MLEM anomalies (ROE_C2, C2b & C3) are coincident with the eastern position of the lower ultramafic identified at Talc Lake". Importantly, they then say that it is typically the lowermost basal (contact) ultramafics that usually have the Ni$ accumulations.

Let us hope so. A find at one strongly reinforces the idea that the whole tenement has similar deposits.

If MPJ do succeed then I hope the strike price of Management on-going shares-in-lieu is way way below Market price and they reap a big bonus for their efforts. It will be extremely well deserved.
　

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Your posts always seem to have the general result of me wishing I had more available funds to throw into this.

Thanks for another quality, well reasoned assessment!

MPJ Price at posting: 0.5¢ Sentiment: Buy Disclosure: Held
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Your posts always seem to have the general result of me wishing...

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