RE: news-UPDATEWell that La Encantada acquisition is certainly shaping up to be a good addition for the company. I like the internal growth in production they have already accomplished, more than doubling it from when they first took over the mine. I like the exploration upside. I like to see that an updated resource estimate is on the way, and that some of that resource will be upgraded to a reserve category. I like the potential for reprocessing tailings. There is a lot of information in that NR that should get investors optimistic about the future. I have added more FR to my holdings recently and I think the stock is very much in value territory, but you sure need to have a strong stomach to own this one, since no matter how good the news it, the stock seems to go through these downdrafts every year that shave off a huge chunk of market cap before it recovers.
As for the NR, it is very technical in project description. I had to break out the geologic dictionary a couple of times to figure out what they were trying to tell me. I suspect that fewer than 1% of the people who read that news would understand what "metasomatic" means for example... WTF! By the way, it means that the ore was laid down through the action of mineralized fluids percolating into the pores of the rock structure and forming new minerals one crystal at a time. This looks like a carbonate replacement structure, although I did not see it referred as such in the NR.
I hope Neumeyer has a few more acuiquisitions like La Encantada up his sleeve. This mine is going to create a lot of shareholder value IMO.
cheers!
COACH247
Voluntary disclosure: FR is a paid advertiser on my website