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Silk Energy Ltd SLKEF

Silk Energy Limited is a Canada-based resource company. The Company acquires undervalued oil and gas assets in Kazakhstan. The Company, through its subsidiaries, owns a 50% interest in the KMG Ustyurt license (Ustyurt). The Company focuses on exploring and developing Ustyurt, an onshore oil and gas concession comprising approximately 6,500 square kilometers in the Caspian Sea region of the Republic of Kazakhstan.


GREY:SLKEF - Post by User

Bullboard Posts
Comment by drillbit2008on Dec 17, 2009 8:29am
261 Views
Post# 16596168

RE: RE: READING THE TEA LEAVES

RE: RE: READING THE TEA LEAVESTantalons note from AG warrents reposting here

Reading the Tea Leaves

posted on Dec 16, 09 10:49PM

Well folks, while we wait, and wait, and wait... I was once again doing some research and re-read the Oct 6th news release that announced the technical report. While it gave a very brief summary of Kians Technical 43-101, there were a few interesting closing comments. For example;

"The Corporation is evaluating its options for possible underground exploration of the previousely mined and partially developed Langmuir No. 1 zone and has continued its program of enviromental monitoring and evaluation in that area. Strengthening nickel markets in recent months may provide an impetus to accelerate this program."

This is an interesting statement as we know there was/is an effort to dewater and possibly do a bulk sample. The credit crises clearly put a halt to any idea like that. But as others here have alluded to, could this be initial talk of a possible JV with somebody to put Langmuir No. 1 Mine back into production?

Even the last paragraph that quotes Randy Miller saying "We are excited with the progress of the Langmuir Property and the updated 43-101 report which provides a basis from which the Corporation can build upon. The Report also provides the foundation from which the Corporation can continue to develop and prove the Langmuir Property as a significant nickel deposit."

Now CEO's are generally the biggest cheerleader when it comes to discussing their own company. Heck we've seen CEO's pump there story even while going bankrupt! But to publically state "to continue to develop and PROVE the Langmuir Property as A SIGNIFICANT NICKEL DEPOSIT! I would suspect that saying such a think would not be just a simple guess if it were not leaning to the truth. As others posted here, you don't spend $16,000,000 on drilling 350 holes for nothing. These Micon/SGS and environmental studies are not cheap either.

Theres been more attention to detailed work here than any other nickel project in the area. There has to be a solid reason for it.

Theres another paragraph that discusses "multiple exploration targets" that have "yielded wide zones of low-grade nickel mineralization". Could there be other Langmuir North type deposits, meaning Mount Keith type low grade but large size deposits. Perhaps just as shallow as the North Zone.

While I'll be the first to admit that interpreting this data is like reading a mystery novel, the information is not exactly spoon feed to us retail folk. One must play Sherlock and re-read everything the company says publically and try to connect those dots. They do lead to something very unique here. Just how unique will not be known until those trio of reports are produced.

And soon, no matter what Micon says, we know by law that the Sept 30th yearend financials and Management Discussion reports will be out by New Years Eve. Happy re-reading everyone. Its all on Sedar if you truly care. Ignore the noise and focus on the public facts. Nothing more and nothing less.

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