MY THOUGHTS 8/12
Obviously the main focus of current events is just what is happening in meetings with Roger Glenn this week. And the good news is ... NOBODY KNOWS!! I believe we'll know soon enough despite what I fully understand is a frustrating, grueling wait for everyone. Nobody is probably more frustrated by it than Urban and Roger themselves, but the plan is the plan and it must go foward piece by piece. Given the complexity of it all, I'm sure it is an ever-evolving plan too that must adapt to variables as each piece is laid down. One piece of encouraging "news" is that Roger was in Saskatchewan yesterday and will be leaving on Tuesday. That's a full week. You have no idea how valuable that information is. A partner at his level is billed out at $500/hour and probably is billing Urban at 10 hours a day MINIMUM (depends on just how much is being accomplished and how late the evenings run -- partners that I've worked with out with clients in another city looking to accomplish quite a bit have routinely put in 15 hour days). The fact that he is taking a full week out of his schedule to be with CMKX full-time is about the largest commitment someone at his level can make. Believe me, the top securities guy in the NY office of EA is not traveling to put together visa cards! This trip IMO is a MINIMUM $40,000 to Urban for Roger's time. More importantly, it's a week's commitment by Roger and EA. To anyone that has friends in law that work at large firms (200+ attorneys), ask and confirm this that when a partner at that level commits like this to a client, this is a signficant piece of representation for that partner. I know. I've worked with Partners at Roger's level (for the record, they were not securities partners). Something big is brewing IMO. A weeklong trip by Roger is a STATEMENT. Mark my words.
Today's Shore Gold news was significant. 22 batches out of the estimated 80-100 that will be evaluated are now in, yielding a total of 911 carats. Currently that puts Shore Gold on pace for between 3400-4100 carats (3000 is the target for economic viability), and better yet, these more advanced batches are turning up even more impressive results. The last two batches yielded some serious macros. For all the naysayers that were claiming the FALC region isn't really all it's cracked up to be, boy are they getting proven wrong. By the way, do a search back on the noted bashers on our board and their initial commentary on Shore Gold. If I'm remembering correctly, almost all of them prior to the drilling results (and even after the first 2 batches) were pooh-poohing Shore Gold as unproven and not likely to show any real promise. Oh how things have changed. And if they're 100% wrong on THAT assessment, how many other things might their negative bias have clouded their vision on?
As to Melvin's running commentary, Melvie is a great guy, but he's got a lot going on right now between his family and the stress and toll that takes. Right now, I would not be surprised if most (if not all) signficant information is being specifically cordoned off from him. Thus, I don't really put a lot of stock into what Melvin says regarding events. I believe he may have more access to us on some mining information but generally speaking on everything else, I think he is EXACTLY where we are in terms of knowledge. I think he's as surprised by every press release as we are. So what I'm saying is if Melvins says "I'm not aware of any Uranium deals", I am not surprised. I doubt that Melvin WOULD be brought into the loop on that one until any PR comes out on it (assuming there actually are any). (BTW, personally I still believe Uranium will be a signficant right sold off - but that is just my opinion and I've already explained why).
Otherwise, low volume, low selling, no price movement, no significant PR, plenty of bashers. Just yer average CMKX day, eh? :)
Z
As always, these are my personal opinions.
Hopefully nobody in here is investing anything but "fun" money that they can afford to gamble with.
