March 16, 2006

Does anybody know what the significance is of wise men from the east bringing paper in exchange for gold? A few persons may have a faint recollection of a similar story. Obviously, very few who trade on the TSX do. Well almost nobody. Does the fact that someone has stood in and resolutely taken up 3 million shares (especially when offered in big bunches) since the announcement of the Dundee Precious Metals financing in December 2005 mean anything?  To me, the price that the stock can be accumulated for can only mean, "stupid sellers on duty". Obviously, whoever it is, wants the stock, but is infinitely more patient and disciplined than the average "penny stock trader".  

CONSIDER THIS:

Announcement by Cassidy of even more financing for its Guinean gold hunt amounts to an astounding testimonial to the deemed merits of the activity as judged by very knowledgeable investment managers.  The treasury has been enlarged to provide for a least $11 million and up to $20 million to be available for the incredibly successful hunt. Fully diluted, the calculation tells us that the efforts from these sources alone represent more than $0.22 per share of a stock currently trading at circa $0.60! C'mon now get real! 

AND THIS!

Cassidy does not regularly turn up weekly press releases of meaningless promises and minutiae. (Some persons would say that is my role). Cassidy calmly announces results without the "sis boom bah" fanfare many "punters" expect. They're the ones who base their opinions on past dealings with junior exploration companies which are looking more for rapid stock price movements than real reserves. Cassidy works differently. Often, Cassidy's news releases are multi-page reports that chronicle results as they are received. This reporting style is highly logical to the explorer, but sometimes, one misses the highlights because of not reading to the last word on the last page. Right now, these reports attempt to summarize the activity of three drill rigs going full tilt to supply key data on a multitude of localities. Cassidy does not dwell on polishing up results from a single drill hole. They are literally drilling scores of holes, at a variety of localities. What many company followers fail to realize is that Cassidy has already made multiple discoveries. They are scattered over a wide area. All of eight discovery areas justify continued delineation. Should these be found to coalesce into only one or two mineable accumulations the workings would become the stuff that legend is made of.

AND AS WELL:

Calculations reported by the highly reputable and conservative consulting firm RSG Global in October 2005 are essentially results from drilling done before July 2005. The amount of resource then reported is considered to be valued (based on industry takeovers) at least at between $100 million and $150 million. That represents intrinsic value of more than $1 per share. Add on the results of a large handful of new discoveries and of twice the number of meters drilled in the latest 9 months, all reporting good results and you have a "virtual" Bonanza!

LOOK AT THE MATRIX:

Highlights of the most recent five page news release are not only the sexy and thick (thick is good in mining) US$90 per tone (more than US$200 per cubic meter) best rock zones. The real sex appeal is that so much of the rock, for such a large area is likely to be pay dirt. Finding a mine is an entirely different event than finding a flashy little showing. See the maps on the Cassidy website and you will begin to better appreciate how widespread the finds are and how small a proportion of the area held has been prospected.

NOT ALL WISE MEN COME FROM THE EAST DO THEY?

There are a few old souls exhibiting wisdom who are from elsewhere, even from Calgary! I suggest a tight grip on your Cassidy shares and a little more patience is needed. When is selling time? After the whole world thinks this is the greatest find of the century. Never let time frustrations rule.