RE: I think management was happy with the resultsI agree, Charles. If one looks at a longitudinal section of most producing mines, there are areas that are higher grade than others, there are areas where the vein or the zone pinches and areas where it swells. Where the grade and the thickness are both high and thick enough to be economical to mine, they layout a stope (working area of ore to be excavated). Looking at the long section and imagining punching drill holes into it, there are a lot of areas that will be a whole lot better than the average, and a lot of areas that will be a whole lot poorer. When you get results such as we have now, they are not barn-burners! But at the same time, one does not walk away! Compare MUM's situation with most explorers. Many have only a theory and a hope and a prayer and by drilling hope to hit something. We have a zone that if it continues with similar results, is on the lean side of being economic. It may not continue, but as Charles said, you could wake up one day with a hot series of holes, a halt and then a jump in prices.
I do not want anyone to take this the wrong way, but at Hemlo there were lots of smells for 75 holes before #76 hit. We have a lot more than smells here, but as I said before, this may be one of those cases where the mine is made, not found. We have a company with money in the bank, with expertise and with a great project at a time when nickel prices are up. I do not know if the share price will go up or down in the short, mid or long term. Others on this board are more expert than I in these matters. ( And there are others on this board who know a lot more than I about geology and geophysics!) However, I do know this is a good project, no BS etc., and I support it! This is the way the system is supposed to work, IMO. A valid exploration bet, being financed by members of the public (who so choose) through the facilities of the stock exchange. I am speculating, I know, but I think it is a good and valid spec.
With every hole, good or bad, management learns a little more about the deposition of the mineralization. As time goes on they may be able to home in on the good grade and thicker zones and thereby "make a mine". I do not know these guys (management) but I like the way they operate, and I have faith that they will do their best.
In the past I have chastised management for poor drill hole info security. From everything I can tell, they sure tightened up this go round. Good Show, guys!
And I do not consider this pumping! I am telling it the way I see it.