GREY:FNTRF - Post by User
Post by
buyingitupon Aug 17, 2010 5:46pm
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Post# 17359019
Update from Foundation...
Update from Foundation...Received a response from them today. There's no plans to touch San Rafael at all this year. They will be focusing on Coldstream and Coldstream alone to prove up the resources. In my opinion, they had better hope for equal or greater results on the last 50% of Phase II than they had on the first 50% of Phase II or else this thing will be getting dumped in to hell.
I have bought all I am going to in this play. My last bid was at 31 cents which of course filled and then this thing tumbled back to 28 cents. Good news is bids are building again at 29 cents and the ask is 31 cents so any buying will increase the price from it's current position. But bottom line is this thing is going nowhere and it's going to be one of those long holds. I think in the end, as long as they can prove up the resources at Coldstream and start doing the same for San Rafael, we will see our day. But until then, don't look at your bank statement, unless you want a heart attack.
I'm still optimistic on this Phase II drilling and I expect great results. But you never know.