Diamonds & Specialty Minerals Summary for July 24, 2014
2014-07-24 21:27 ET - Market Summary
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Re: Vanadiumcorp.... Maybe Patrick Obrien would still be in charge if he had done what Adriaan Bakker has done and produced a compliant 43- 101 from the existing data... Producing a compliant resource estimate is nearly completed also using this same data.
Did you notice that Blackrock via CXE.H has finally made enough information available to extrapolate a market cap for the reverse takeover of CXE... The CXE placement @ $2.00 with roughly 120 MM shares post consolidation equates to a $240 million market cap....in addition to this Blackrock was to do additional placements which would further increase that value.
Will Purcell's suggestion of spending exploration dollars without a compliant 43 101 plan are as ridiculous as his endorsement of the former management, in my opinion. I'm a dissident shareholder that is thankful that VRB has new management focused on advancing the project.
My only hope is that the resource estimate can be completed before Blackrock goes public via CXE and takes out VRB effectively doubling the potential mine development. Note that neither Blackrock nor VRB have a compliant resource estimate in the public domain.
Posted by VRB shareholder at 2014-07-24 23:21
"Will Purcell's suggestion of spending exploration dollars without a compliant 43 101 plan are as ridiculous as his endorsement of the former management, in my opinion."
Oh really!
Well then, why were Mr. Bakker and his fellow dissidents so upset with the pace of exploration under the old regime? I suggest you read the dissidents' letter to shareholders dated April 1, 2013. It includes these comments:
"The current board has exhibited a disturbing lack of concern for shareholder interests. According to the company's latest audited financial statements the company spent only $296,665 on exploration during its 2012 fiscal year while its administrative costs were in excess of $1.8-million. It is time the company becomes an exploration company, not an administrative company. The company has been planning a drill program since July, 2012, and has finally announced a small program in March, 2013, with the meagre funds it has left. If only a fraction of the funds spent on administration last year was put into the ground, PacificOre could be in a much better place today. Management's lack of focus on exploration is not limited to the past year. Since 2005 management has spent more on administration than exploration every single year. Administration costs exceeded exploration costs by a staggering $10-million over this period and there is absolutely nothing to suggest this pattern will not continue under current management."
...and nary a mention of regulatory reports. Frankly, I suggest that investors want to get a compliant mineral resource estimate, not a history lesson. By the way, are you suggesting the regulators are now endorsing exploration programs? (re your “compliant 43 101 plan”)
I endorse no management of any company, past, present or future. I do, however, enjoy holding current management of all companies to the proverbial fire regarding their own comments.
As a dissident shareholder, don't you?
Best of luck either way,
Will
Posted by Will Purcell at 2014-07-25 18:15
I thought you were more inteligent than presented in your last comment, but aparently I was wrong.... in order to take the step to resource estimate the availability of all information should be assembeled into a compliant 43 101 and thus the decision to take the next step into a resource estimate can be made if there is sufficent infomation availible to do so. The new team is doing what the old team should have done 3 years ago!
What Adriaan has done is focus on getting all the information compiled via ISO to short circuit the endless drilling/exploration the previous managment assumed was necessary.... because they didn't take that inital step.
You and your buddy focus on everything negative and disregard the positives..... Hardly the unbias commentary I have been paying for, for the past 13 years.
Do you post on stockhouse under the allais of Garth17.... there is a remarkable consistancy there/here?....JMHO
Buy the way I have read all the news releases and still stand by my comment that I am thankfull the new managment has cleaned up the mess left by the previous managment cluster.
Have a nice day V-NOM and Garth17
Posted by VRB shareholder at 2014-07-27 13:32
You say: "I thought you were more inteligent (sic) than presented in your last comment, but aparently (sic) I was wrong"
Sigh. Here's a helpful hint: If you're going to insult someone's intelligence, I suggest you spell "intelligent" correctly. (Not to mention a slew of other words.)
You say: "...in order to take the step to resource estimate the availability of all information should be assembeled (sic) into a compliant 43 101 and thus the decision to take the next step into a resource estimate can be made if there is sufficent (sic) infomation (sic) availible (sic) to do so."
Well, most explorers who intend to prepare a 43-101 resource estimate from existing data include their 43-101 resource estimate in the 43-101 report. Vanadiumcorp's report is just a history lesson.
You say: "The new team is doing what the old team should have done 3 years ago! What Adriaan has done is focus on getting all the information compiled via ISO to short circuit the endless drilling/exploration the previous managment (sic) assumed was necessary.... because they didn't take that inital (sic) step."
Is this the same Adriaan that complained in April 2013: "The company has been planning a drill program since July, 2012, and has finally announced a small program in March, 2013, with the meagre funds it has left. If only a fraction of the funds spent on administration last year was put into the ground, PacificOre could be in a much better place today."?
You say: "You and your buddy focus on everything negative and disregard the positives....."
I'm not sure who you're calling my "buddy," but I'm the only one involved in writing the summaries.
You say: "Do you post on stockhouse under the allais (sic) of Garth17.... there is a remarkable consistancy there/here?....JMHO"
I do not post on Stockhouse. If I did, it would be under my own name.
You say: "Buy (sic) the way I have read all the news releases and still stand by my comment that I am thankfull (sic) the new managment (sic) has cleaned up the mess left by the previous managment (sic) cluster."
That's good. I hope it works out for you.
You say: "Have a nice day V-NOM and Garth17"
Perhaps they will. So will I. You too!
Regards,
Will
Posted by Will Purcell at 2014-07-27 18:40
I bet you are an agressive driver as well.
Toxic tounge know it all!
You must be in the managment of Stockwatch, no employee would be so viral.... Spell check please...
Posted by VRB investor at 2014-07-28 09:30
VRB Investor:
When you're typing in the entry window, notice the light red underlining. It is showing you the words not in the dictionary. Yes, it is a spell checker.
Hope this helps.
Regards,
Will
Posted by Will Purcell at 2014-07-28 12:48
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