GREY:XMTTF - Post by User
Post by
juststocks500on Jan 31, 2014 11:40am
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Post# 22158351
Wasagastar
WasagastarTo be objective; you have a point. But...
First note that XME is a Gold exploration company with other claims actually containing a bit of gold. So, that surely didn't stop them from going for graphite. Why, because they are primarily a mining company looking for an exploitable deposit of some very lucrative element.
I for one love their initial reaction. They stumble upon ZEN-like magnetic anomalies. What's the first thing they look at doing, besides getting the thing drilled? Grabbing as much land as they can. Grabbing land claims is dirt cheap. But if the north goes ballistic on graphite, it'll become the black goldrush. It's easy to discard the claims later as opposed to them being potentially difficult to get later.
We need to remember this all started with a ZEN-like "mistake". Re-calibrating, so to speak, all their prior findings in light of graphite signatures has given the entire northern Ontario eastern Quebec area an entirely new prospective meaning.
Miners have always looked for Gold, Silver, Copper, Nickel and so on. But 50 years ago, what was graphite anyways? Hitting graphite 50 years ago was a miss. Fast forward to our time and graphite is a technological game changer.