my outlookBeen away for two days and just catching up on some reading here! Thanks for the compliments guys, but there are many here who are more accomplished in geology than I and that includes Bob Brumell. Bob is definitely more accomplished in the market and the psychologies,moves etc. than I am.
I think I have posted before that I thought this was going to be a case of making a mine rather than finding one. By that I mean that it will take some hard-slogging, re-assessment and re-configuration as each new piece of info from drill holes, mapping, geophysics etc. leads to differing theories on where wider and higher grade areas might exist (if at all). I think it is wrong to expect that the next set of drill holes will hit the "motherlode" etc. When the expectations are high average results lead to disappointment, and someone else has pointed out that this is what happened. Mustang is not my largest holding. On the other hand I do not have to get a daily quote to be able to sleep at nite. I do not have the market savvy, nor the access to real time market data that a lot of you guys have. I do believe that this is a legitimate project with lots of up-side potential. I do not expect immediate upward movement, but if I have to go into the bush for a month, I will not worry about MUM disappearing.
Sagee posted that drills are hard to come by these days. I agree! Everybody is busy, and management can not just pick up the phone and get another one coming. Crews especially are in short supply.
I totally agree with Bob when he says we are a long ways from outlining a mineable resource. It took Outokumpu a long time to outline a mineable resource at the Montcalm Mine. I think with the present nickel prices and the flexibility of MUM management, the Bannockburn project will move a lot faster!
I do not hold as much MUM as I once did. I do own some Liberty. I have gotten a little flack over on that board because I do not toe the prevailing "party-line". I belive MUM is a safer "investment" but I also believe LBE has valid and credible projects with smaller float, more volatility and more risk. But that is only my opinion!
One thing for sure, and I intend to post this line at lbe also, is that as more money is spent and more work is done in this area, all players will benefit from the successes of all others. Some appear to take the view that the one's support of one company is identical to his/her condemnation of the the other players. I think the opposite is true.