PINL:HLOSF - Post Discussion
Post by
The300 on Feb 16, 2011 5:14pm
Drills Turning, Results Pending
With all the activity going on behind the scenes the stock price and the discussion on Halo seem to be pretty muted as of late. Hopefully it is the calm before the storm. A good storm that is :-)
We are in for some interesting times ahead as we have not 1, but 2 drill programs going concurrently. This means that in due time (next couple of months or so) we will have 2 sets of results to digest and ponder.
Cold-Lost
The first of the 2 drill programs is that being conducted by our JV partner's affiliate - Hudson Bay Mining and Smelting Co., Limited which is drilling at the Cold-Lost property (a 1.1 square kilometer area of Halo's 200 square kilometer Sherridon VMS Property in Manitoba). This is what I consider to be our meat and potatoes drill program. If this program turns up promising results, it opens the door for a further 20 holes and 2000 meters of exploration between the Cold and Lost deposits. If they can prove up more tonnage between the 2 deposits, it makes the case for going into production that much stronger, and starts to put money into the coffers for further exploration of the Sherridon property.
Sherridon
The second drill program is what I consider to be our blue sky drill program. A 1,500 meter diamond drill program is set to take place within the 200 square kilometer Sherridon VMS Property which is slated to be completed in February. 8 drill holes will provide preliminary testing of three new targets that include:
1. Second Lens at Bob
2. Fidelity South/Jonah
3. Sherlett area
If Halo hits anything of significance in any of the aforementioned locations, it will be a bonus as it is not calculated in the fundamentals of the company.
Pending Results
I would anticipate that in March we will be hearing news about the current drill programs and whether Hudbay will continue with the additional 2000 meter program. The timing is good as it will coincide with the PDAC, the largest mining show in the world, which I believe Halo will be attending. If the results aren't out by the time the show starts, Halo can at least let prospective investors that results are pending.
Fundamentals Still Intact
- Cashed Up
- Tight Share Structure, Limited Float
- Near Surface Results Amenable to Open Pit
- JV’s with Hudbay and Goldcorp
- 43-101 Resource Estimate of 22 Million Tonnes
- Potential Producer in 2011
- Lots of Blue Sky Potential
- Copper at Historic Highs
- Hudbay Minerals, Pinetree Capital and RBC own Significant Positions
With results pending and great fundamentals, its hard to believe we still have selling pressure in the $.50 range. It could be remanants of Mineral Fields or it could be impatient investors. Either way, I've taken advantage of the selling and bought a few more shares. And, if the opportunity presents itself, I'll buy a few more if the price is right.
Still long and strong on Halo and looking forward to see how the next 60 days will play out.
As always, the above is my humble opinion.
Regards,
The 300
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