RE: coach247Hi Spike!
I have not been able to log onto SH since last night because of some kind of virus, so that is why I did not post, but here is what I wrote yesterday on my website, shortly after the news was released:
"This NR is exactly what I expected it to be, with solid intervals encountered over very narrow widths, including one big high grade hit. In other words, it is prototypical Zacaetcas exploration news. The company is going ahead with phase II in the fall, and that is good news too.
Now as far as I am concerned, it is just a matter of time until they come up with a wider zone of high grade ore and then we are off to the races with development potential. The stuff we have encountered so far is nice, but it is not at the critical mass we need to get serious about mining. We have hit heavy smoke, but not found the fire yet.
I am also happy to see that Yale has almost completed the earn-in requirements for the 65% ownership on just the first pass of drilling. This was an exceptional acquisition for YLL to get a shot at these prospects so cheaply.
It remains to be seen whether we can expect a heavy sell-on-news effect. A lot of shares changed hands today, and perhaps some of that overhang of cheap paper is finally history. I think the news is bullish, but some people may feel that it is a bit thin.
I am neither a buyer or a seller at this point. I still have my entire allotment from the PP and consider the company to be an excellent spec play. The entire sector is undervalued at this time, and investors are still easy to spook, so I will not be surprised if we get heavy buying tomorrow, or a selloff. Its all just part of the ride until new money finds it way in and Mexico gets its chance in prime time. "
cheers!
COACH247