Post by
glorieux on Aug 09, 2011 10:29pm
Bullish on GAX
As some of you may or may not know, Larry Hoover is in Europe for a personal trip till early September. He has been my main contact with the company as I did not want to bother Robin. Larry speaks very highly of Robin. Says the man operates very efficiently and has a roladex like he has never seen. When ever we need any work done, no matter how complex it seems to be, Robin has the exact contact to get the job done. This has helped fill one of my big worries for me as I feel our BoD is weak at this point. However, Larry has full confidence in Abitibi and in Langton (who has a great reputation in the Val d'or area) Between them, we have a great crew in these early days of exploration. Larry says once we have more data and that the deposit has some real meat to it, then they will use this to attract the talent we need to go to the next stage. This gives me some confidence that these guys are thinking ahead and that if mother nature is generous, we will be in good hands here. I cannot speak for Robin too much so far except that he has been very professional on the phone but I can assure anyone that Larry Hoover is the most ethical man I have ever met. He is highly intelligent and is not afraid to dig deep to find the information he needs. With him on the board of directors, we truly have a voice that represents retail investors.
I am very bullish here as everyone can tell by my previous posts. It is not only because I have made a serious financial investment or know Larry Hoover personally but because I like the huge blue sky here. This could easily be a 20 bagger from here if things work out for us. The company has proven that there is high grade gold in the area over mineable widths with the first drill campaign. The geophysics have now identified many anomalies that are potentially gold bearing, some of them are quite large. The visuals on this last drilling campaign have confirmed that these anomalies are not artifacts but rather host rock with up to 65%quartz tourmaline in one short case, 20-30% QT over long intercepts in other cases. We have had some visible gold reported as well in these drill holes. Abitibi is so impressed with the results so far that, assays pending, they want to use us as their example of how great their new 3D IP techonology can work. The PR we would get from them, talking to all the gold companies about our company to promote their technology does not get any better.
We have another granodiorite intrusive plug on the property that has now been identified and our consultant geo was very excited by it. This plug is 10X the size of the Regcourt plug so has great potential for hosting large/many gold bearing structures. This plug is only at the starting line at this point. We have no geophysics much less drill cores to tell us how it will turn out-it could be completly barren. However, it offers more blue sky potential.
I have not had such a large position in any company since GNH before the big run up. I am hoping that this one follows the same start as GNH but with a much different ending. One of the difference so far with GNH is we have had some very successful assays already. We still need some patience here till the end of August but with gold screaming up the charts, it is a little easier to be patient. What I would like to see next is some rallying in the TSVx and especially the gold juniors. That would set the table perfect for us to release some assays to the market.
Waiting impatiently,
Glorieux