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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Post by GeneFrenkleon Nov 18, 2013 3:56pm
320 Views
Post# 21916969

Trying to process this...

Trying to process this...I've been trying to process all the recent information we've gotten from Simon, Scotia, and our own MD&A, and my conclusion is that I'm slightly confused, yet very optimistic.  I'm really just going to lay out my thoughts here, and hopefully you guys can debate whether they're useful or not.  Hopefully I don't come across as asking/answering obvious questions.
1. Per Simon, we're not going to receive a single assay from the 2013 drilling program.  That seems odd to me.  Obviously the hope is that the reason for the delay is that they're very high grade, and thus have to be reassayed, but still.  I forget when drilling was finished, but this level of turnover seems ridiculous, especially since RMC specifically stated it would try to speed up the news to the market earlier this year.  How long is Freeport allowed to sit on this information, assuming they have the results?  I'm not sure of the advantage of sitting on the results since they have to lay out all the information if they're going to have good faith discussion about a buy-out.  (Assuming a buy-out, obviously).  I find this ridiculous, honestly, but given we're up so much this year, I'm just excited for what next year might bring.
So my overall impression of that news is optimistic.  And confused..  We may find out the true area of the high sulfidation, as well as the porphryr.  It's possible this will really expand our resource or find more discoveries.
2.  Freeport has been drilling on our land and taking chip samples.  As stated by Rob, we've known Freport was drilling on our land in one of the 100% claims, but apparently they were doing "unathorized" work on another claim.  How/why does that happen?  This is a potentially very lucrative partnernship for both companies, so I doubt either would want to screw up such a possibly lucrative JV.  And why did it take so long for this to be reported?  A drill rig isn't exactly something that's easy to hide...
3.  We know per the Serbian PM that Freeport is massively increasing their drilling budget for the country.  Does anyone know if they have JVs with other companies in the area?  If not, then we're about to have a hole bunch of rigs turning on our properties.  Which means we won't see the results til 2015 according to the current timelines, but still.  I quite like people investing in RMC with other money.
4.  We're doing our own CSAMT surveys.  Does anyone know how long the turnaround is from the surveys to getting any type of results from this?  Obviously these aren't drill core samples, but it would be excellent if we knew whether or not we had potential targets; our original discovery worked out pretty well from CSAMT.

So that's where my head's at.  Hopefully I'm not the only one looking for clarifaction on these issues.
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