Thursday, June 16, 2011

The Smoking Gun & Bloody Knife

After many moons of following this promotion in excruciating detail this scribe must pass the highest possible KUDOS to the superior due diligence skills of a poster named "nor-easter" at This individual found what was under this incredulous monkey's nose the entire time ... a report from 2009 that describes the water table problems at Nixon Fork in COMPLETELY unmistakable and undeniable detail.
And what excuse will this determined blogger use to explain the oversight? One must remember we are dealing with a promoter with a lifetime's experience at this sort of thing, and sometimes blind luck is the only thing preventing any poochie from getting shorn on the horrid Venture exchange bordello.

In this case the document was filed on Sedar late and along with 8 countem 8 other documents, including the AIF, proxy materials, notice of meeting, statements of qualified person, a second technical report, "other", etc etc.

Clever Mr. Barr, only the VERY determined with an extreme attention to detail (or very lucky) would find that needle in the haystack.
So what do we have here? Glad you asked citizen. Lets ponder some of this grotesquely contradicted pooh.

"One of the hurdles for expanding mining operations at the project is the primary water table, which sits at approximately 300 m (1,000 feet) below surface. In addition, there is a secondary, perched water table located approximately 140 m (450 feet) below surface."

"Due to the karst nature of the skarn and host limestone country rock, this water table is persistent and difficult to model."

"The water table varies from 140 meter to 168 meter in elevation."
And one of the MAJOR recommendations of the report ...

"Initial hydrology modeling and possible drilling to determine best way to eliminate water from workings that go below current water table."

Well. There is no confusion possible about the definition or existence of a water table at Nixon Fork, and since this report was prepared in August 2009, anything contradicting it thereafter can only be considered a deliberate and sickening falsehood to perpetuate a securities fraud on the public.

With this in mind lets briefly review some of the statements made by this management since ...

"The mine is currently dry. Slimes have been mucked from the bottom of the ramp leaving 1 foot of water. Past operators experienced seasonal inflows into the mine from the spring melt. This has not been our experience over the past two seasons."

"The water table has not been defined at present."

"Although there were resources declared at depth on 3300 (and we will likely do so in our own resource estimate), there is no obstruction to mining below it other than that this is a zero discharge facility and, yes, we do not have an EPA waste water discharge permit."

"The mine is a fairly dry - at present there is about 3 ft of water at the bottom of the mine in the main ramp, so there is no obvious evidence of a water table."

"at present water isn’t an obvious physical barrier to deeper mining."

This blogger has said from day one this isn't rocket science and that remains true today. The only question required has changed only slightly. Its gone from WHERE the Golder Associates study is to WHY this management is withholding its disclosure. It should be absolutely clear, even to the deliberately obtuse, that it remains hidden for a reason, and that reason has everything to do with dead worthless paper being offloaded onto the public by career promoters contrary to virtually every securities law in existence.