My take on this NRThis NR explains why we have not heard more info re progresson the Appalachia play.
Obviously theacquisition of this property got NAG personnel excited re its potential. Theirfirst NR was based on the preliminary overview of the property, the grab sample assay and thehistorical numbers [which weren’t 43-101] and its closelogy to producing minesin the area,
Today’s News isobviously dictated by demands of the BC Securities Commission to rectify theimplied value of the coal prospect. Boiler plate discussion of possibleproblems is listed and warnings of possible problems meet the compliancerequired by BCSC.
The grab sampleresults seem very encouraging but cannot be extended to the total areaacquired. The historical data is just that –historical Close to other mines isno guarantee that this land contains similar grades –whether smaller or higher.
As I have alwayssaid, the only true valuation MUST BE made by the ASSAYS.
With this releasenow public, we can only hope management will keep shareholders well informed oftheir plans.
I had been told thatthe company hoped that revenue flow from the Appalachia coal mine would fundthe exploration needed on their Saskatchewangigantic land holding. Perhaps the delay will have them do some preliminarydrilling on targets in Saskatchewan.Although I understand Saskatchewanhas had an extreme cold and heavy snow falls so far this winter.
Delays and problemsare always in play with junior mining and as we are experiencing now, ALLcompanies small or large. The Crash of the Markets and the lack of creditavailability are major problems for all now.
At best, we mustcredit management in obtaining potentially substantial revenue properties.Their excess stipulation re the potential without compliant details has causedproblems. But, it is NOT insurmountable, given time and successful assays.
And so we either holdon and wait for Spring or sell and lick our wounds.
I am of the formergroup and shall encourage management to keep us informed and their planstransparent as we see how their plans play out.
Good luck to us all.