OTCPK:FRSAF - Post by User
Comment by
JohnEStromJron Jan 26, 2012 5:38pm
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Post# 19454619
Victor2009 [Turdblossom]
Victor2009 [Turdblossom] Victor2009 [turdblossom]
I've said many times that a PEA is NOT a legitimate NI43-101. I'll say it again if you like. The PEA is a document that is put together before a company begins mining to give the banks/lenders/money changers information about the company to reassure them that there is gold in them thar rocks. I've never seen a PEA or an NI43-101 that had ore but not ONE ounce in the measured category.
Not long ago Fire River said they were NOT going to prepare an NI43-101 but simply drill up more gold as they needed it. I'll bet Victor2009 [turdblossom] wasn't aware of that. As if you can just still a drill in the ground and come up with more gold when you want it. I'm guessing the Venture Exchange told them that they needed to produce a 43-101.
Folks, make SURE there is gold in that mine, that the Sprott loan can and will be paid off and you might also speculate why some do NOT want it discussed that this mine has no measured gold. So much for producing 50,000 ounces per year. I sure hope they do but I don't think there is any chance. It's a nice number but wait until they post Q4/2011 AND Q1/2012
Victor2009 [turdblossom] Do you believe in reciprocity? So do I. I'll be over on the LBE board soon. Karma is a bitch isn't it.