RE:RE:Sokoman Valueggnewmex1
Terrific rational post. I feel the same way.
Under typical situations, I would not be upset by today's PR since if you do drilling, you can get mediocre or poor results. That is the name of the game here and I think most of us know that. However, the way this have progressed in the last 18+ months or so, when we had $10M or so in cash has been aweful. I think management got carrried with acquiring and drilling these other projects (beyond some follow up drilling to take a shot at it). However these companies do not really have true CFO's that understand risk/probability analysis and financing requirements to pursue multiple projects. I think Tim was not counting on Moosehead results since last September Hole 463 being a big let down to say the least. I think the results have surprised him also in how bad they have been.
There is a lot of chatter about a spinout of GH. Sorry to rain on our parade, but spinout of what? There are 400 lithium projects in Canada alone and you need around 1.5% grade with decent intersections to even get some attention. Lithium is very abundant in the world and its about refined lithium which is hard to get. You also have market conditions much worse now compared to a year ago for lithium and finally you typically have to spend money to do a spinoff and finance it. We need money ourselves soon.
Tim and management in my view, screwed up, however on a go forward basis, it looks like they are still doing multiple projects and will they continue to go down this path? Moosehead drill assays from the past do not add to hill of beans unless you have continuity and can tie the various zones together. But Tim has rigs doing lithium dusters and I hope he stops to focus on one project. If Moosehead is something he is trying to move away from (which I doubt but would not be shocked by his actions the past year), then do it and stop wasting money.
I own NFG (not huge and several thousand shares) and consider that a long term hold. It will payoff long term and I spend no time on it except looking at the frequent great assays and new zones. I do not pay attention to the price since time will work it out. Those assays are fantastic. Along with Franco Nevada my only gold holding other than SIC. SIC is the last junior for me and I will exit 75% of my position on a future run up. That run will happen but it could be a month/year or few years for all I know. I am not sure I have seen a junior with so much promise and cash completely come apart so quickly although I am sure there have been others. LOL. We have not had a break of luck in this company in a long long time.
GLTA
BC