Post by
PowerPlay47 on Aug 24, 2011 3:10pm
The Summer of QMI
Is pretty lame now that we are two thirds of the way through. What started out as a big bang at the end of spring is fading fast. There is lots of good news though (if you are a gold investor).Heading back to the end of spring 2011, major drill cores pulled from the depths of the SMC zone indicate ultra high grade gold just off the bow of QMI's JV. I say just off the bow, as in well less than two hundred feet. Some might say close but no cigar but all the geologists say this whole thing (based on geology) trends right into QMI's kitchen (AK property). Apparently, for the last month, there is a drill station down there pointed right into the JV. Follow the yellow brick road?So gold is up a few hundred bucks an OH ZEEE since then but QMI has nose dived (OK today some is being given back but in the grand scheme of things #@!&!#@). Difficult to explain that one but I am sure one thousand people can come up with one thousand unique answers. QMI's peers have all bounced back some and QMI's cost of discovery is 10 bucks per OZ. Then there is the AEM insider, buying almost a million shares at 5.25 on the 8th. Now that sounds like a back room deal right there. Who else with cash got some at 5.25? Picked right off the bottom? Sure we have a level playing field in Canada, sure we do.So now what? It is turning into a long long summer of QMI but the positives are just around the corner. I am not sure how the market will react to it since QMI is not trading fairly. What am I getting at? A lot more proven gold is on the way. More than six months ago Page announced 43-101 reports to come. Well we have had two of them. They came late. We are still waiting for the Bidgood and AK 43-101 reports (and they are way over due as well). So the QMI propaganda machine should be starting up soon. Maybe just after labour day? Watch for two new 43-101 reports to come and then, right on their heels, a whack of new drill core results. Drilling has been going on forever but no news means slow and unresponsive assay lab(s). Everyone will be back to work soon, so, dam-nit, let us see the summer of QMI!
Comment by
rolfoto on Aug 24, 2011 3:23pm
... to be sure sell in May would have been a good plan
Comment by
4nolan on Aug 29, 2011 7:31pm
New to this stock and taking a good look here. What happened at the beginning of August for such a hard drop ... looks much more then just market conditions ? Whatever it was looks like Sheldon was ahead of the game. Nice to see Agnico buying here ... good property !good luck