RE: Hey P10 and Other Longs...My assumption right or wrong, based on the last NR and what I learned at the AGM is that Vale will first be concentrating on the 1.1 km section of the Suwar deposit that displays the UTEM anomaly. That having been said I would think that to get a 43-101 resource on that section of the deposit would require between 250 and 300 holes. If held to an exact number I’d say 262.
Vale’s interest so far leads me to believe that we will not need to be pursuing a 43-101 resource on the whole deposit, but I may be wrong. My bet is that if the current work continues positive, they will commit to mine development soon after a positive prefeasibility study. To date 49 holes have been completed that leaves potentially 213 to go by my guesstimate. If Vale decides that the whole deposit is worth of a closer inspection on first pass then we would be looking at between 650 and 700 holes. Again my guess is that by later this summer we should have a good idea of the grades and intersections on that UTEM anomaly.
Yes, I believe CF did not screwup at the AGM but was sort of pulling our leg in saying the prefeasibility should be done by this summer. The point he was trying to get across was that a substantial amount of work will happen by then. Often times when he is confident in the outcome of a situation, Chuck can be a loose cannon, making it easy to read between the lines. Hence Chad has further reason for pulling his hair out, on top of the news reports coming out of the Yemeni media.
As for waiting for Cantex's notoriously unreliable time frames for upcoming assays, I was lead to believe from talking with CF après AGM that the drought of info will soon change after Vale announces and starts the drilling program in Suwar, our patience will no longer be tested. We’ll see on that! Vale has multiple choices for assaying.
So having my hand held to the fire, I would say that the first news that comes out of Suwar is that Vale has contracted a 100 hole drill program to be completed in a 3 month time frame. That’s the first news only! Let’s see if my conjecture comes true.
P10