|There has been yet another "analyst" report breathlessly touting the vast potential of Nixon Fork and Fire River Gold.|
This time out our grossly incredulous and badly beaten brow is being treated to copious bullchit from Mr. Michael Fowler, M.Sc, MBA (Senior Mining Analyst) and Mr. Leonie Soltay, M.Sc (Mining Analyst)
How about 50,000 ozs gold production a year, annual cash flow of $ 36m by 2012, and a conservative target price of $ 1.40? Before we get our unbelieving lather in a tizzy dissecting the patently insulting lets take a quick gander at the disclaimer ...
"The information contained in this report is drawn from sources believed to be reliable, but the accuracy or completeness of the information is not guaranteed, nor in providing it does LOM assume any responsibility of liability."
Well O.K. Its grossly misleading garbage, acknowledged as such, and liability is expressly denied to everyone who reads it. Now we know where we stand exactly.
|The first assault on our fine sensibilities is the amazing ESP powers of our "analysts". Our boyos have intimate knowledge of what was going through the heads of previous operators at Nixon Fork and have no difficulty spewing it as gospel fact. |
"Nevada Goldfields closed the mine because of low gold prices. St. Andrews failed to meet production targets because of excessive mine dilution probably caused by insufficient definition drilling of the ore body and consequently closed the mine in 2007."
Nevada Goldfields closed the mine because of ore face issues as the water table was encountered in the C3100 and C3300 zones (and insolvency) and St Andrews failed to meet production targets for the same reason after expending millions studying the problem AND they did extensive definition drilling before writing the project off completely.
Our brilliant analysts then go on to describe the indicated reserves in those zones and darn it, is there a whisper anywhere about the heavily referenced Golder Associates Study on grouting and pumping OR the fact every gram is below the water table? Weeeeeell, not exactly. "The underground portion of the drill program is focusing on ore definition and expanding ore resources, particularly in the 3300 zone, 3500, 3100 and other areas."
It goes on (and on) ...
"with approximately 94% of resources close to current mine development or on surface in tailings, the company is in a position to bring production back on‐stream in a short time frame."
Lets be extremely blunt with the truth. This is no analysis of a mining project by professionals. This is a grotesque tout from paid whoores with a special interest in lying like sidewalks so that worthless paper can be cashed out on the public.