Eldo, das hab ich gemeint: Hab´s gefunden 
Interessanter wert, hoffentlich stimmt die Lage (sage nur MGN und Naturschutzgebiet)
Tschonko
Last week, O.T. Mining (OTMN) announced drill results:
Friday, March 4 OTMN.PK Assay Results from O.T. Mining Corporation's Porphyry Copper Drill Intercept, DDH NA04-6, Ruby Property Preliminary Assessment - PrimeZone Media Network
http://biz.yahoo.com/pz/050304/73855.html
Immediately, I did a calculation that revealed that the rock was about $5/ton rock, including only the copper, at the higher grades. So, I was very disappointed, but what do I know, as I'm not a geologist... Besides, I was headed to the PDAC on Mar 6-9, and so I decided to hold my questions until then.
At the show, I met up with Jim Hess and 4 of the geologists who work on the MMI process. In all, I heard positive enthusiasm from 8 geologists, and positive second hand reports from 3 more. I questioned 3 geologists at the MMI booth, and before I introduced myself, I asked them pointed questions about the low grade, and why this should mean anything positive at all.
There were several answers, and I'm not going to be good at reproducing the technical ones, but I'll do my best.
First of all, it's a good hole, because O.T. hit the copper porphyry on the first try! It's like hitting a bull's eye. Some company exploration programs may take 50-150 drill holes until they find a copper porphyry system.
Second, this particular copper porphyry system is huge, very huge, and also potentially very rich, due to the proximity to the "richest hill on earth" which produced in excess of 700 million ounces of silver--and silver was not the big money from the other deposit.
So, I asked "how huge"? I didn't get an exact answer, but the geologists said that they might do the next step out drill to the side about 200-400 meters away.
The other factor was that the mineralization was nearly continuous for such a very long intercept, 1250 feet, that isn't even finished, since it was richer, and open, at depth--and they will continue to finish the hole!
Another factor was that the drill result matched the predicted model, in that they were looking for deep mineralization that was well under several hundred feet of overburdon--or non-mineralized rock and dirt on top.
But I insisted, "If it's uneconomic, what's the point?" The answer is the most technical one. "You'd have to understand the geology of a copper porphyry system." Apparantly, the other key minerals, gold and silver, will "precipitate out" at different temperatures and in different places nearby, and now they know the general area where to look, and that it is now much safer to do more drilling in the area.
This particular hole, apparantly, was not targeting the high grade gold or silver anyway, but instead, was looking for the copper porphyry, which they found. The MMI survey maps show no gold in the drill hole, but gold surrounding the area on two sides.
Now, there are also reports by other geologists. They were commenting about how the majors were really, really interested in O.T. Mining now. So, I countered, "So what? The majors are always making mistakes. They hedged for years, and got caught going the wrong way against rising gold prices. And then they stopped exploring for a few years." The other geologists said, "Yes, but it was not the geologists making those decisions. And one thing the majors do have is money, and they can afford to hire the best and smartest geologists on the earth, and they know what this drill hole means, and they understand what a copper porphyry is."
Apparantly, the geologists from the majors didn't even care about the low grades.
Next were other reports from other geologists, who were giving advice to Jim Hess. They were saying "Don't sell to the majors yet! Wait, and drill some more, and wait for your stock price to rise first!" Cool!
So, again, the skeptic in me asked a few of the geologists, "So, are you going to go out and buy O.T. Mining now?" Well, here, my question seemed to embarass them. Most simply were not investors, but apparantly, they spend most of their income. One said, "Well, I only own a little bit of 4 stocks." Problem is, life is hard. It's hard enough to earn, harder to save, and harder still to invest.
My dad was in advertising during the early tech boom, working in silicon valley, and was offered stock options on so many projects, he figures he lost millions in missed opportunities over the years, so I know how easy it is to miss what seems obvious at the time, and take cash instead, when you have a life that requires cash needs...
But here's what some of the geologists gushed enthusiastically...
Now, when I was standing around trying to listen to their technical industry gargon talk back and forth among themselves, but being mostly confused, I learned that they were quite concerned with whether or not other geologists would recognize the success of their new process, given the O.T. Mining result. They felt a bit concerned that "the world typically refuses to recognize the new"--even after the hard evidence that proves the success, simply because of entrenched interests.
So, after I introduced myself more formally as a key investor in O.T. Mining, then they asked me a bit more directly why I decided to finance their project! Again, these are process guys, mostly concerned with whether the world will recognize their process--which I must have done, since I funded it. I said that although I knew nothing about MMI, it sounded plausible, and I had faith in Jim Hess. I also liked the proximity to the richest hill on earth. I also liked all the other research that was done on pre-drilling exploration on this particular project for so many years. Finally, I also bought into the private placement to fund the drilling because the share price was particularly low at the time, at $1.25/share, U.S., around Dec.-Jan. 2004.
After that, I heard statements such as, "You will be a very rich man." Also, "You just made the best investment of your entire life."
There was not one single negative comment about the O.T. Mining drill result from any of the geologists that I spoke to.
It's a crazy business. There's nothing quantifiable yet that I can measure against the market cap, and I like to quantify as much as I can in my silver report. O.T. Mining is my largest holding, and I'll be holding my stock--I have no choice, since my hold time extends for one more year. I have a few more warrants that expire in a few months that I plan to exercise at $2.50/share.
For more information:
http://www.otmining.com/
info@otmining.com Jim Hess Tel: 514-935-2445