GREY:OLEPF - Post by User
Post by
yosimiteon Dec 17, 2009 12:19am
516 Views
Post# 16595737
reply to:UPCOMING DRILL RESULTS
reply to:UPCOMING DRILL RESULTSIf IR advised you that drill results will be out this week they have breeched a fiduciary duty to the shareholder, as well as legal requirements of the SEC, so I call B.S.
Furthermore, as you should be aware Oromin may not claim new ounces until a NI 43-101 compiant resource estimate has been completed. Therefore new drill results will be stated in new holes, grades and depths as per legal requirements of the SEC. (security exchange commission).
It is rather unconvenient for the short term investor that such companies may not make frivalous announcements of "proven ounces" until a true engineering estimate has been completed as per the standards set out by NI 43-101.
However, should Oromin continue to drill such significant results as we have seen in Epsilon (not included in the existing NI 43-101 resource estimate), there will be a time when a NI 43-101 compiant resource estimate will indicate the true value of the deposits contained within Oromin's claim block.
Until such time, investors unable to complete their own "proven ounces" calculations will have to rely on new holes, grades and depths.
Personally I am looking forward, with great anticipation, to the news of:
i) new holes
II) grades
iii) depths
Keep on drilling boys. Results are excellent.