Thursday, June 20, 2013

Blog Update

I've been very busy the last month and a bit. There are two things to report that are of note.

First. Happy Creek had Mr. Lerner leave. He was a money man. The stock took a dip and I bought more. While it wasn't much it was still a profit. The sp rebounded like I expected. Some question arose about the Eye property. This was a claim smack in the middle of HPY's property that they let Newmont conduct some DD. Newmont has returned the property. What we don't know is what they discovered or didn't. Neither of these events were particularly material so the dip was artificial. The only reason for there interest in the first place for this isolated property would be to test for a tend. That does mean they have a trend on their existing property!

Second and last. Copper Fox is not announcing a drilling program!? Does that mean the new owner does not want the work done by CUU? What about the Earn Back In money? Hmmmm. Smacks of a total buy out. There were rumors of work happening then suddenly, nothing. The camp is prepped but nothing of interest is happening. (Really?). The other related thing is: We did work in Az for the DD. We have not been fully appraised of that work. We are not working Az now??? We have to ask why that is.

Just because Teck is about to buy out the Schaft Creek deposit is no reason not to have Az booking along. I think Az is going with the package. There's no other explanation.


  1. Thanks for the update. Can you comment; give your opinion on the view expressed on SI that there was no drilling because there is no $$ and EE doesn't want to put anymore $$ in at this point? Would be good to hear reasoning behind your know, for reassurance.
    Thank you

  2. They could raise money if they thought it was needed and they just might. They have $5 million in cash and receivables. The $2 million in prepaid expense shows they don't have money problems.

    What I'm hearing from people is what's bugging them is the "Bankable" deeming is taking Teck way too long. The FS was delivered and the next step is the deeming. Is it possible that it can take that long? Just how long do we give them?

    While this process takes place we do not drill. We'd be drilling on our own dime. If we can't get a good price we will drill. No doubt about it. In the mean time we are advancing the EA on our own dime.