RRS 0.00% 0.1¢ range resources limited

information???...what a waste of time...

  1. 15,276 Posts.
    lightbulb Created with Sketch. 45
    I just spent 1hr reading all the RRS posts since I was last on line...

    Not one...


    I think I might put the entire site on ignore.

    Where are your collective brains? In anyone's book, the initial indications from this first hole are, at the very least, good...or in industry terms, "encouraging".

    But one hole doesn't make a resource...much less, a hole without definitive assay results!

    None-the-less, IT STILL IS a good start to their drilling campaign and in my opinion, was certainly worthy of a price increase.

    What happens next is really quite simple.

    If the results come back better than expected, the price goes up...less than what is expected and it goes down...SIMPLE...no need for all this angst or childish schoolyard diatribe.

    For what it's worth however, I see it the short-term profit/reward ratio is rather attractive...if you are not risk averse that is!

    Remember, this is the first hole of an 18 hole campaign, so given the way the market typically behaves during such periods, it really is hard to see the price falling much below current levels, even if the results are less than expected...unless of course, it turns out that there's absolutely no sign of nickel at all in this first hole!

    If this did turn out to be the case, then their GEO would become the laughing stock of the industry..and no doubt find it very hard to get further work!

    I find it hard to imagine that any GEO would willingly destroy their reputation making false comments...even if for kick-backs...which is why, when all is said and done, I am more inclined to believe that they have in fact discovered "significant" nickel sulphides.

    But the big question however is...what exactly does "significant" mean?

    For WSA, significant would mean 5-8% nickel, however, for RRS, at this stage even 1% might be seen as "significant" for their overall program...as it would indicate the existence of nickel sulphides on their ground and support their pre-drilling prognosis!

    In recent times, it seems there have been quite a few of these rather "inconclusive" announcements, so one can understand the reluctance of many in the market to take a position, especially givens RRS's reputation.

    I suggest people take care however, not to throw out the baby with the bath water...if RRS had owned WSA's ground, would that have made it less valuable?

    In situations like this, I like to keep reminding myself of the bigger picture, which is that RRS have discovered "significant sulphides" on their ground...which is right next door to WSA's proven economic nickel resource.

    You would have to be a mug not to see the possible implications!

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.