GREY:AUAYF - Post by User
Post by
pfaffgauon Aug 12, 2004 1:01pm
166 Views
Post# 7804192
The Facts
The FactsI think Bob Moriarty has it right. The biggest story to yet unfold is that there just isn't enough moly production to meet world demand. Everyone in the industry expects the price to drop back....it isn't doing that because the deficit will only be met by a new mine(mines). We are very, very early in the recognition game and there aren't many, if any besides Adanac(?), public companies which are pure moly plays. As for surprises, this is a porphyry orebody with .065% Mo. If 43-101 regulations were realistic, they wouldn't need to be twinning old holes. That orebody is there by Geology 101.
There may be some interesting add-ons however. A 1000 foot pit might bring the reserves to 250,000,000 tonnes. Maybe there is a good high grade starter pit to get faster payback. Those are only possible add-ons, not "surprises". If the first exploration bull market since before 1997 is coming, which I personnally think is the case....Adanac is showing itself, chartwise, as one of the first out of the blocks. Don't waste time bad mouthing it......in my opinion, get on board. BP