RE: Latest Update on SNORE-POST
Spoke to Sno, we should expect a drilling update this week. Looks like drill #2 is almost finshed being assembled. The lumber to build the Shed around it had arrived and is being built.
Bob Paterson is infact on location and will be reporting back with details. So an Update will take place this week.
As for the Bulk Sample. I have spoken to Graham at Snowfield and They will continue posting pictures on the website. You can also find up to date ones on Sportiva's site.
Some people asked about a picture or two from a distance. I guess so we can see a snapshot of the whole thing at night. I like that idea and i believe we will see some shots soon.
Bulk is going as planned. Another important fact is this. Seems like they have money to continue drilling away. I don't expect funding anytime soon.
Now some interesting points. Again ( DO YOUR OWN DD ON THIS) However it has come to my attention that infact Debeers is not the only company looking at SNO. There are 2 others that i have good indication are looking. Regardless of this, the Bulk still needs to prove up CT/TON. From my conversations with people in diamonds, I have been told that the location of SNO is a huge advantage to them. Infact it is actually a bigger deal than one would imagine.
The Location would only need .50ct/ton to be a very profitable mine. And if the numbers are anything more than that, than the possibilities of a takeover are likely.
With that being said, you must also realize this important fact. Yes Debeers is processing the sample. 2/3 going to GP 1/3 to S.Africa. Yes Debeers will get alook at Data. However!, This does not mean they will be able to walk in and take it for $4-$5 that easily. If we see anything more than .50 Ct/ton, than you can expect one of the following situations.
Debeers may ask for a 5000Ton sample, or They may make an offer pending. At the same time, You could see the likes of TECK or maybe someone else also jump onboard.
Will they take a small stake in the company (ie: 10%). Probably not. What you will see is a takeover.
Remember, SNO is here to Explore and find the Diamonds, The intention is to Sell the property.
My Conclusion: If your shorting, Thats fine, Go ahead try, do whatever. Once we run up to $1, if you feel the need to take profits and lower your entry point. Well thats also good if you need to. If your staying for the long haul, Well thats more where i'm at, and all the best to us. Its simple math. The stock is in pretty strong hands and both longs and management know it. Along with results and delivery of the sample will come new onlookers and investors. This could easily be your retirement party. AGAIN IMHO. I have chosen to do all my own DD, and I know a fair amount of Investors here that also own other stocks that i have. Its a game of chance someimes. Chance for Shorters, and for Longs. Ask yourself where you want to be and you will discover the answer. I'm Long, and regardless of te activity on this board or outside of it. I have come to realize that i'm sitting on FREEDOM!.