RE: News - Shareholders Rights Plan I'm with you Hardlook! The resource calculations are delayed because they are much more extensive than previously thought. Tungsten and Molybdenum are everywhere on the Jersey-Emerald property. While developing a floatation process for molybdenite, they "found that many potential by-product recovery options should also be considered." This has just happened within the last couple of months.
"Exploration focused on the East Dodger area and to date Sultan has completed almost 3,000 metres of diamond drilling in 26 holes. This drilling successfully outlined a zone of stockwork molybdenum mineralization that has been traced over an area measuring 1,000 m by 125 m and over a vertical depth range of 150 m. The molybdenum mineralization remains open in all directions and to depth. The present resource study will focus on the East Dodger Molybdenum Zone, and five tungsten deposits; the Invincible Tungsten Zone, the Feeney Tungsten Zone, the East Dodger Tungsten Zone, the Dodger 4400 Tungsten Zone, and the recently identified East Emerald Tungsten Zone. The evaluation will incorporate the results of drilling completed by Sultan in 2005 and 2006 with historic drill results obtained by the previous mine operators."
Earlier this year, they reported. "Results of a recent 12 hole drill program by Sultan show that all 12 holes intersected molybdenum mineralization over a 1000 foot long zone beneath the East dodger Zone of the historic Jersey-Emerald tungsten mine. Most recently an additional hole, a 3000 foot step-out, encountered a 682 foot intersection of molybdenum mineralization and bottomed in mineralization at 1032 feet."
IMHO the real sleeper with Sultan is on the Kena property. Jersey-Emerald provides Sultan with a means to get production started within 2 years. The revenues will be used to fund exploration at the Kena gold property, without diluting shareholder value.
I will be backing up the truck again if this thing goes back to 52 week lows. There won't be another chance after news is released.
griz