Some follow-up on this piece of Kevin’s most recent outstanding article with emphasis/commentary:
You know, there’s something I forgot to say about Pelangan and Mencanggah. Remember that big open space between the two prospects. There’s a big hill there. Aeromagnetic survey work done perhaps a dozen years ago by Newmont leave the Company describing this 4 km. by 2.5 km. footprint as: “Undeveloped targets showing localized porphyry alteration signatures and coincident magnetic anomalism associated with favourable structural intersections.” Early to say anything of great significance, of course, but the area of this footprint is 22 times the area of Grasberg’s alteration signature footprint. This space is ‘prospective’ for multiple porphyry targets and these are likely to be on the scale of 500-1000 metres in diameter… each! Batu Hijau has a diameter of 800 metres; Grasberg – 600 metres. Oktedi – 800 metres. Lots of work to be done here. I believe this space between Pelangan and Mencanggah is one of the topics Steve Garwin was talking about when he described West Lombok as a textbook case in geology.
We are hunting for elephants here…yes that is plural and we expect to find at least one. I had the distinct privilege of attending this March’s PDAC and meeting face to face with some of the Southern Arc family and management. I certainly don’t want to leave anyone out, but want to reinforce what many here on this board already know: John Proust has assembled a world-class team, and Hamish, Mike and Steve’s presentations had me taking notes as fast as I could write. Here I was, hearing first-hand what and why our group had invested in this little company to begin with…”THE THEORY” of one huge inter-connected system.
Indulge me a little as I recount our group’s introduction almost 4 years ago this month, and our due diligence on John Proust and “Berani Harimau” and this company called Southern Arc. We are constantly looking for investment vehicles and are constantly being pitched investment vehicles, so when we were told by reliable sources that we needed to look at this little company that was in the process “of drilling company-making holes”, we began checking out this Proust fellow and his geologist with “THE THEORY!
Proud and sad to say at the same time, our 20 person group decided to “pull the trigger” on a whopping 50K shares or 2,500 a piece (that is the sad part). Of course over the years, we have added to our position significantly, both in members and shares, all the while never straying from our GUT BELIEF in “THE THEORY” of “Berani Harimau” (our Indonesian contact’s phrase) or one Hamish Campbell.
I could write a novel on the succeeding ups and downs of our group’s ownership of this stock, but we feel extremely fortunate to have conducted that due diligence on Mr. Proust and his little company that could, AND WILL four years ago!
Someday there just may be that novel or movie made about this company, because this may be the stuff legends are made out of!
Forgive my long-windedness and waxing nostalgic for a moment after re-reading Kevin’s article!
GLTA