RE:Drill Core Question about CCBAmazing12345 wrote:
I keep reading that every investor should read every NR closely to understand it clearly. I have read over the Jan.13th NR many times and there are two questions which still perplex me and I haven't seen many mention. It has to do with the drill cores being submitted for assay. I preface these questions by stating that I think CCB has an interesting deposit and I'm trying to understand the company rationale here as far as submitted drill cores. Prove a resource here, no matter the size and this should move as the end product testing has been excellent.
First investors were told that the intial drill program was not submitted because the company was going to wait until winter set in and drilling had to end before submitting the cores for assay. Then in the Jan.13th NR the company stated that. "no samples from this initial drilling campaign were sent for assay." Were these the same drill cores that initially investors were told would be assayed once winter set in? Not slamming, just asking if they were the same ones or different?
I realize that they continued the drilling to a total of 2000 m. Of the 2000m 133 cores were submitted for assay. If each drill core is the standard size (which my DD shows to be 3m, please correct me if I'm wrong) then only 399m of the 2000m was submitted for assay. Does 20% submission seem like a small percentage to anyone else and why the small number as submitting 20% wouldn't seem to give a true indication of the deposit? Those 133 cores were obviously chosen as they showed visual evidence of possible graphite, but why not submit all the cores to get a true drilling interpretation of the site?
Just interesting in hearing the thoughts of others so the topic on the site might be something other than one stock versus another.
Investors don't care about a twenty year reserve, it is all about "how did you do last quarter'.
There is no money around to drill for that, personally I like the new model and am into a couple of gold producers doing the same thing.
Much like sports, what have you done for me lately?