RE: A Little Chart TAThanks for the information relating to the 70 foot extension to the Bachelor shaft by the end of December. It would be interesting to hear where this information has been obtained – from a site visit or contact with staff at Bachelor, as this detail does not appear to have been published by the company and they only reported that the first blast at the shaft would be before the end of December?
Following the past history of delays and subsequently the issue of disappointing results, the following reporting omissions give grounds for a sense of déjà vu :-
BACHELOR LAKE-POTENTIAL NEW ZONE (DIAGNOS Target)
Due to the recent excellent grab samples, Metanor initiated a stripping campaign and has removed minor surface overburden to access the structure on both sides of the main road to the mill. The structure which is visible now is close to 300 feet long by about 30 feet wide and is still open in all directions. Further, a diamond drill rig is presently on site and has commenced a 1,000m drilling campaign on this promising new zone only 3 km from the Bachelor Lake Mill. Results are pending and should be released before year-end.
As Bachelor has its own on site lab, then it is surprising that there have been delays in reporting results from the above press release, which was made on 14 December 2010 and the seasonal break would have been taken into account before reporting before year end results.
September 23, 2010-Val-d'Or, Quebec, Canada: Metanor Resources Inc. ('Metanor') (TSX-V: MTO) and its exploration team are pleased to announce a drilling campaign of 25,000 meters on the Barry property.
Also, it is very surprising that not a single drill result for Barry has been announced since the announcement of the start of the 25,000 meter campaign on 23 September 2010. In contrast, Bonterra Resources at Barry only received their drill permit on October 21 2010 and yet drill results are flowing at regular intervals?
Vancouver, BC -- October 21, 2010: BonTerra Resources Inc. (BTR: TSXV; FSE: 9BR) (the "Company", "BonTerra") announces the receipt of its drill permit for the Eastern Extension Property in the Urban-Barry Greenstone Belt of Quebec. Bonterra commenced drilling on the Eastern Extension Property which is situated just east of BonTerra's Urban-Barry Property.
The pre feasibility report for Bachelor produced an impressive 85% IRR, which should be easy to finance (with an exceptional payback in 10 months). Since the sp has not responded, then the question has to be asked, what negative factors are in play. The intangible factor is the effect of management on lenders / shareholders. Some while ago, there was a comment that Sprott is a shareholder and therefore management must be OK. However, they were invested before the failure to perform on share price manifested itself. However, a time may come (or has already come) when men in grey suits from institutional investors “advise” management what their future options should be.