Friday, January 21, 2011

NSI for Dummies

Yet another set of drill results that demonstrate in clarity exactly how hopeless things are at Nixon Fork, but this time, at least, the company has decided to do its shareholders and the public a favour and report the dusters instead of ignoring them completely. NSI means No Significant Intercept and the drill is hitting barren rock far more often than not.

And the only significant intersections are once again from the C3000 zone, and how many times is it possible to breathlessly spew about that which CANNOT be mined?

We should not ask because that is ALL this promotion can possibly do to lasso obtuse public live ones to this diluted paper.

Pretty pictures that obviously take a great deal of time to prepare once again fail to show the location of the water table, and without an appreciation of where that is, every bit of propaganistic eye candy is designed 100% to mislead, not inform.

This Co has not added a single mineable oz and certainly over seven figures has been blown on drilling thus far. Its St Andrews all over again and who can be so stupid as to gleefully repeat the same grossly expensive mistakes of others?

Well, a promoter looking to unload a great deal of ridiculously cheap paper on the public at a multi-bag is the exception to that rule, but what excuse does the public have in swallowing the same rubbish, over and over, while losing all their money?

This is far from rocket science and a potential investor need ask only one thing of Mr. Harry Barr and Fire River Gold ... where are the material facts contained in the Golder Associates study on pumping and grouting? If that study and its contents continues to be witheld this deal needs to be avoided like the plague that it very clearly is.

A body could take the logical next step and wonder what it means for insiders to bail on dopey public types while failing to disclose the missing and highly material facts that are obvious to all ... even ridiculously hard to motivate BCSC types.

Insiders have not been blowing out their paper in significant quantities YET, but lets get serious here, whats the point of running a promotion if not to unload worthless paper on ultra dumb sheeple incapable of understanding the fundamentals of their "investment"?
Meanwhile a semi-creative (duh) google search containing the keywords "water" and "Nixon Fork" returns the following in 24 point bold font for public types (from July 2004) ...

MINING NEWS: Permitting issues delay Nixon Fork startup

Additional water discharge permit needed at shuttered mine; Mystery Creek plans to produce gold by re-treating tailings."

And gee whiz, scroll down slightly and there's more from November 6, 2006 ...

"The existing gold resource at Nixon Fork includes some mineralization that lies below the existing water table, about 1,000 feet down from the mine's surface level. Accessing that ore is a technical issue the company is still working to resolve, which includes testing work that is in the process, Jones said."

Monday, January 17, 2011

Golder Associates for Dummies

The Venture Exchange is a minefield of half-truths, misrepresentations and outright lies. Sometimes even the proper questions are less than obvious, even to fully jaded and experienced types.

Fire River Gold is the exception to the rule because there has been a great deal of technical information about Nixon Fork filed with the government of Alaska and all of it is public domain.

The very obvious question needing to be answered for Fire River Gold shareholders is ridiculously simple. Where is the Golder Associates study on grouting and pumping?

Referenced half a dozen times in the material available to anyone sitting at their computer, this study will reveal in detail why the ore reserves and drill results breathlessly reported ad nauseum are irrelevant to any investment decision.

It defies common sense that St Andrews would spend many millions to study the water problem at Nixon Fork in great detail and then walk away from that investment without mining the ore. Grouting and pumping failed to stop water ingress into the mine shaft and that is the only possible conclusion of the Golder Associates study. Its as simple as that. If there was a feasible solution to mining that ore St Andrews would have certainly found it.

We do know for a fact that pumping could not lower the water table significantly and that efforts to drill wells to dispose of the waste water and retain "zero-discharge" status failed due to permafrost. At an absolute minimum this Co will require an EPA discharge permit to even attempt to lower the water table through pumping again.

If the ore in the only continuous zones at Nixon Fork is impossible to mine because its below the water table, shareholders and the public should know about it. Its a material fact. The should and the reality are two different things on the Venture exchange however, particularly when there is a massive mountain of wholesale paper waiting to be unloaded on obtuse public types.

Wednesday, January 12, 2011

Nothing to see Here

Fire River Gold has released more drill results from Nixon Fork and the market is not impressed, probably because the holes are all from the C3300 and C3100 zones.

"Fire River Gold Corp. is pleased to announce results obtained from the 2010/2011 28,000 metre drill program at the Nixon Fork Gold Mine situated in AlaskaŹ¹s Tintina Gold Belt. The Company has received assay results of holes 1 through 10 (N10U‐001 ‐ N10U‐009)from the 3100 and 3300 Zone."

Does it matter one iota if those underwater zones are drilled 50 times or 50,000,000 times if its been proven beyond any possible doubt that there isn't a single gram of ore that can be mined?

The semantics seemed to have changed slightly with the delay in the PEA on underground mining as well. Last time out it was an "in-house" study with Snowden "supervising" and now its all about Snowden's study. A subtle clue perhaps that Snowden isn't comfortable with its name getting plastered over a highly partial "study" that is more about wishful management thinking than the stone cold facts required to justify a major investment for a public company.

It may have a large impact on the content of that report and one might speculate that this has spooked the market for FAU paper. It is this opinion that a negative PEA is the best possible result to avoid the annilation of millions of innocent bucks on a lost cause. Mr. Harry Barr, I am absolutely certain, could find much better uses for that kind of dough and stakeholders would be better off in the longer run.

Saturday, January 8, 2011

Fire River Gold in a Nutshell

It has been more than a few moons tracking the ultra amazing Mr. Harry Barr and Fire River Gold and it's past time for a reader's digest overview of that growing mountain of pooh in the obligatory nutshell.

To those just tuning in, the story is all about construction of a brand spanking new $ 7m CIL circuit that is charging forward despite the growing tardiness of an "in house" PEA on the resumption of underground mining supervised by Snowden that presumably will justify it all.

That makes great PR for career promoters but the simple fact is the majority of the ore at Nixon Fork, and all the proven ore, is below the natural water table. A fact that is likely already proven conclusively to this management through the non-public Golder Associates Study on grouting and pumping. This ore simply cannot be mined because Nixon Fork is a zero discharge facility and there is no way to either grout the workings or pump the water into wells through the permafrost. Pumping to lower the water table is not feasible, and even if it was an EPA permit to discharge the waste water would take at least 2 years to obtain.

St Andrews studied the matter in great detail, blew tens of millions, and could not touch a single gram of that ore while enjoying a truly horrid 68% recovery rate from the remaining sulfide ore scratched from elsewhere.

Remove the C3000 and C3100 zones from any mine plan and the economics at Nixon Fork make no sense whatever. Tailings are finite, can only be processed when not frozen, and will offer a very modest return in the final year, if stakeholders are very lucky.

It absolutely appears that a massive investment exceeding $ 7m will barely offer any return at all in a best case world, and in a ordinary world will end up in the bottom of the mine shaft in a few years without returning anything except losses for the holders of this equity.

Thursday, January 6, 2011

Where's the Beef?

Wellington West has been a seller of FAU paper over the past few days and that can't be good for retail rank and file types. "We keep it simple. We make it personal. We make it fun."

Well congratulations Wellington West, losing money is never any bloody fun and you can quote the brainiacs at the Fire River Gold blog for the next sound bite.
So where's the FAU beef these days? This observer would not touch FAU paper and the reasons have been documented here in great detail. Throwing $ 7m away in direct contradiction to every engineering study ever done at Nixon Fork absolutely reeks, even by hopeless Venture Exchange standards.

The public cannot possibly believe this management knows more about Nixon Fork than the engineers paid to study it over the past decade. Assuming otherwise is a guaranteed way to lose money on what appears, from the available evidence, a hopeless proposition.

Monday, January 3, 2011


Shareholders of Fire River Gold had better be appreciating the very recent and significant upgrade in Fire River IR advertising as it relates to visual foxiness.

From GreekTard nosehair in excruiating detail to WoWsers, nice err, yeah, I believe every word, whatever it is you're saying exactly.

Every stakeholder penny an incredibly well spent one this time. Mr. Barr for pope. If you can't baffle em with the usual bullchit confuse the hell outta their sense of direction with hot foxes.