UpdateHi All
As I've always said I would give you my personal opinion if its time to buy.First of all as my past posts have indicated CBI is sitting on a huge nickel deposit.I had no doubts in my mind that it was for real as it has been tested by 3 different companies.Back when it was first discovered price of fuel was outrages and therefore it was to costly to mine however not the problem now with Hydro and infrastructure improved(and new process's).Within the last few years the process has changed to HPAL and has been accepted.One problem CBI had was the Magnesium content was high and therefore costly to extract(consumes acid).The latest Technology which has been suggested was Atmospheric leaching which separates ores without the cost of high pressure tanks.It has been used on our samples and worked great.I don't know all the in.'s and out's of this process but we have caught the eyes of many.I have also suggested that we have a huge deposit of Magnesium which the company is now prepared to state(as per last 2 news releases).So why is Magnesium not a problem anymore?.Noranda has a new Magnesium plant with many startup problems but they are using a process we believe would separate our nickel and Magnesium.This is very important to us as while previous owners of our property eliminated many test pits based on high magnesium content also eliminates the high nickel.Again I have suggested they are re-calculating the property with the idea magnesium can be extracted separately therefore giving us more nickel.So we are now sitting on a huge nickel and a huge magnesium property but the question is will the latest process work.Another key issue that I referred to in my last post was the 30% balance of intrepids position.We now own 100% of the Guatemala property and it cost us 1.3 mill shares and no royalties.So to summarize here is where we sit.
1)-recalculations (due any day)
2)-will newest process separate mag and NI(expected any day)
3)-buy last 30%(done)
4)-Deal with major or interested parties(many talks and either one expected soon)
So now is the million dollar question to buy or not to buy.I still say don't sell and based on my personal opinion I see a couple of scenarios in short term.I would love to see the long term faithful's buying to average down very soon under $.35.Within a couple weeks from now I will be lifting this suggested price but will have to wait and see what developments happen next week then it will be sit back and wait.I'm very confident on positives coming from the above 5 mentioned points.As you all know this is my personal opinion so you can take it or leave it.I said I would post here on buying only when I saw progress in mentioned areas.Remember I may be wrong so take it only as a suggestion.I will be out of commission for a few days(probably Wed) as I'm getting some work done on an old injury so wont be able to respond or should I say probably shouldn't cause of the drugs.I have noticed a huge decline in people posting and reading here so I still offer you to go on my e-mail list.I have also slowed down reading the chats so I prefer e-mail.If you wish to be on list I'm at jjsands@cadvision.com.Please add your real name and if you post you ID so I know who I'm talking to.Let the games begin and good luck!
Stubbs