PINL:HLOSF - Post by User
Comment by
McLachertyon Nov 19, 2010 8:15am
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Post# 17728618
RE: VMS Results
RE: VMS ResultsAngle of drilling is 60% so depth is approx 400ft which is reasonable but still not at our quality.
----------Original Message Posted 11/18/2010 10:08:53 PM----------
ORIGINAL MESSAGE READS:
I would have to say that VMS results at Reed make this look like the major play in the area, because their results are good but not up to HLOs. One good hole and does not have the minerals we have. Mind you I own both and will likely be selling VMS and moving 100% to HLO. Of course I could be wrong but that is what I will do. GLTA
I ALSO HAD A LOOK AT VMS DRILL RESULTS TODAY !
YES, THEY HAVE FOUND SOME MINERALS ALRIGHT BUT IT'S THE 650 FEET BELOW THE SURFACE THAT CONCERNS ME !
TOO DEEP FOR OPEN PIT MINING AND PROBABLY TO COSTLY TO MINE THOUGH UNDERGROUND MINING METHODS !
UNDERGROUND MINING COST ROUGHLY THREE TIMES THAT OF OPEN PIT MINING WHICH WOULD LEAVE VERY LITTLE PROFIT FOR VMS VS. HALOS OPEN PIT DEPOSITS. OPEN PIT DEPOSITS CAN WITHSTAND MARKET VARIABLES MUCH BETTER THEN UNDERGROUND OPERATIONS WHICH CAN QUICKLY BECOME UNPROFITABLE.
I AM NOT TRYING TO BASH VMS AND I WISH THEM ALL THE LUCK, HOWEVER, IN MY PERSONAL OPINION I HONESTLY BELIEVE THAT HALO WILL BECOME A MONEYMAKER LONG BEFORE VMS !
PROSPECTOR43
P.S. I ALSO HOLD A SMALL POSITION IN VMS BUT PROBABLY WILL BAIL OUT COMPLETELY.