Saturday, July 9, 2011

The Devil in the Details.

The big picture can be tough nut to crack on the Venture Exchange when very critical pieces are being deliberately withheld. This time the picture cannot possibly be any clearer after comparing the old and krappy 43-101 from August 2009 to the new and improved 43-101 from October 2010.

While its obvious the later was copied very nearly verbatim from the former there are differences and glaring omissions. The "perched water table" has become "perched water tables", but the largest change is the disappearance of several sentences of extremely critical disclosure.

"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."

Finally the all important recommendation (and disclosure that the mine workings are below the natural water table) has gone MIA completely ...

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

So whats the upshot here citizens? Its a game of pea under the walnut shell. Now you see it, now you don't. The first 43-101 could not sell ice cubes to the Inuit with that particular wording included, notwithstanding there is no hint of the missing Golder Associates study. The "new and improved" is much better in that uncomfortable verbiage is gonzo. Viola, multi-millions from dum dums unconcerned with the intimate details becomes readily available and the grotesque cost of the "new and improved" 43-101 from a new author, 13 months after the first, is money well and truly spent.