What would main causes to make or destroy a minnow mining explorers? Succeed or fail to discover they target mining resources! How could you be sure the companies that you have shares from them, would succeed or fail to find what they want or what you want? No one could be sure but one common sense is if you want to get what you want they have to drill for what you and they want.
ORO, which I bought at $0.002/0.003 in GFC ruins, are contracting out its REE tenement to drill. So it gets the necessary condition for what it wants and what I want. The selling season should last for another one month but if it has the REE all would be the history.
*** Oroya Mining targeting rare earth elements in drilling at Mt Barrett joint venture - Proactiveinvestors (AU)
Oroya Mining targeting rare earth elements in drilling at Mt Barrett joint venture
Wednesday, May 25, 2011 by John Phillips
Drilling for three weeks-targeting the REE
ORO is targeting rare earth elements in a new drilling program at the Mt Barrett Project joint venture with DMN.
The joint venture has planned for two drill holes at the site with a combined depth of 900 metres, and will take up to three weeks to complete.
A boost from the Southern Geoscience Consultants Report
The Southern Geoscience Consultants Report states:
1. 'The low density material overlying the magnetic core may represent deep weathering. In some carbonatites, deep weathering is a mechanism for REE enrichment.
2. 'For targeting of REE mineralisation, the lowest density zone overlying the magnetic source may be more prospective than other parts of the system.
3. 'A northerly inclined drill hole designed to intersect the low density zone within the modelled magnetic source should provide information on the nature and prospectivity of the possible shear or thrust zone on the northern edge/contact of the magnetic intrusive.'
(So as ORO's shareholders you have to think what if it has REE and what if it has not REE. If it has, ORO and DMN would get what the market would like to dance with it! If not, both of them would be at the doorstep of the hell again. Fortunately GFC forces both of them leave enough room for their own survival! So at $0.002/0/003 of my buying price should be safe but the shooting up potential would be great)
4. Datamotion is earning 70% in the project and Oroya is free carried for 30% to a decision to mine.
(That is fine for ORO shareholders since 30% of REE chances are got nearly free!)
*** Purely think about my own interests only. Do hope it has REE and could be next LYC.
LYC got its lowest price at $0.08 in the worst time of GFC. REE or the management excellence, which played the most important part to makes the 30 times returns if anyone got it at $0.08? If you did so, could you say you were confident it would fly as it is now?
Don't expect ORO could be priced at $2.00 but $0.20 are great enough! Yes it is a dream and nearly that in the daily time. The key is what the cost for the dream and in the resource-rich Australia are there enough examples the dream become true?
If Ady shoots up, or Arh, or Arx, or Mdv, or Rsn, or Oro, or Rau...Could we accumulate some fishes which are working on to fly, which would work for our profit objectives without excessive risks before the resource boom comes into a dreadful end?
Of course, dream is quite risky if we pay too much for it just as I paid for IMI at $0.001. It was absolutely cheap but the damage was too much for this cheapness and turn the cheapness as expensive market playing due to its internal problems and bad market environment.
DMN Price at posting:
0.3¢ Sentiment: ST Buy Disclosure: Held
