PRW 0.00% 0.1¢ proto resources & investments ltd

proto ponderings

  1. 1,126 Posts.
    OK quiet day at work today, so here's my yearly summary of Proto.

    - Currently sentiment rock-bottom, due to initial premature ludicrous claims that seem to be due to a mix of inexperience, enthusiasm and technical incompetence.

    - As a result, SP fallen to .04 but has solid resistance at this level.

    Linderman's Bore

    - About a .01% chance there is still a massive ore body of copper there.

    - More likely that there is a mixture of different metals of varying quantity: copper, gold, silver and cobalt. Trick will be to see if there is an ore body of sufficient quantity of one of the minerals.

    - Magnetic anomoly of LBD2 mainly due to magnetite? But not much has been said about the magnetic high other than it being the most prospective part of the tennement. Still don't understand why they didn't drill this first if it is the most prospective part? Instead he said that LBD1 was a small arm of a vast ore body. Based on what? The niton gun readings of the core? Or a theoretical hypothesis?


    Barnes Hill

    This thing has been going on too long without any solid news. Was looking good earlier in the year with the promise of further things to come but all we got was the promise of further things to come. Getting frustrating now.

    Meant to be a "Flagship project" but you would think there would be more news for investors if this makes up such a large part of the company's activity. Must be frustrating for the punters that got in early on in the game.

    Has good qualities like being close to port and the technology they are using but jury's still out on this one since it has never really taken off with previous owners etc. Expecting a similar Nickel grade all around but the wild card is any extensions they can get e.g. to the West. Any such upgrades would make it a serious proposition being so close to port with the iron ore and thesmelter down the road.

    Outlook for 2010

    Have about $2 mill cash left excluding investments, which should cover them for all of 2010, on rough average of 500,000 per quarter.

    With all the news coming up in January, should move the SP higher when the announcement comes out (I expect about 20 Jan), as I expect that some good news will come of all the work they have done.

    But its crunch time on the boat. It needs to get sailing soon or they'll be a mutiny. I hope for all the Hot Copperites that we're heading into some less treacherous waters and that it will be smooth sailing from here.

    I have recently changed my sentiment to 'None' from 'Buy' as I was hopeful for more before the end of the year. Could be making money elsewhere on other ships heading northeast but can't leave the boat now.






 
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