Drill results and responseWhat people seem to be forgeting here is that this is not a new discovery. The Kuhner occurrence had been drilled in the past with very similar results, although this intersection is thicker the grade did not improve. Also the previous release hinted at high grade mineralization in a pyroxenite body which is the key unit at Lac Des Iles. The fact that this did not pan out was dissapointing to the more technical analyst. Still some reasonable results.
Thus the market response is - so what? What Houston has to do is prove that the rest of the zone is mineralized and the only way to do this is to step out significantly and get as good a hit or better. Anyone now why the projected extensions of this zone to the east and west are not on ground held by HLM?
With regard to PFN the market punished them for hitting similar values over similar widths so the downdrop is not surprising. I have followed the LDI area for sometime and there are several interesting plays in the area (Avalon, New Millennium and Houston). I have also heard rumours that PDL has trenched some interesting looking mineralization in the Dog River/Buck Lake area. Hang in there as a very good area play is developing - although slowly.