RE: RE: Another delay - wonderful ...I will give them until mid Jun then they will hear from me on a regular basis if they have not made this stated objective.
From my own experience, delays are par for the course with ….. a case in point being April 30 2010 being the due date for the Barry 43-101…… on the projected date Andre Tremblay sent me an email with regard to my enquiry and his response included ……
We have initiated this work before we receive all the results and targeted a date for the completion at the end of april. However, the main delay was a logging and splitting delay when a geologist quit……. All I can say is that we are very close to conclude and results will be very interesting and impressing, and will change the future of the company. Please be patient for another 2 weeks and you will see.
However, it was about September 2010 before the 43-101 eventually appeared and it transpired from reading between the lines, that the delay was caused by a fundamental disagreement with regard to the lower grade produced by block model valuations, between Andre Tremblay and the independent SGS reporting geologists. In the event, the results fell short of the expectations from the investing public.
It appears from the recent comments from Andre, that the company is seeking out areas of higher grade material for the bulk sample. This seems to contrary to a the principle of using random sample which would be statistically more reliable for reserve calculation. Ultimately, shareholders require a quantifiable resource calculation, which may also be possible by initially locating areas containing ~10gt. However, this may result in the underground mine forming a honeycomb of areas with high grade ore extracted. Depending on the price of gold, the lower grade areas could also become economic before long.