Josef SchachterTyler Resources IncTYS.VBUYSep 02, 2005
Deep rig is supposed to be getting in location in the next week. Will start doing step-outs deeper about 100/150 meters than the 350 meters they've done to date. His expectation is that they use the original core rig to go lengthwise and they're going to head for the south with that. If they can get a reasonable amount of work done by year end, they should get to all time highs.
Rejected a hostile bid from Mercator (ML-T) but is still in play. Continuing to drill to provide better knowledge on the resource. Over the next one or two quarters, he expects there will be a number of bids and some time in Q2, Q3 of 08 it will be taken over.
Copper prices have lifted the stock. Have a very large resource in Mexico. There is analyst coverage on it now. His view is that the resource is so big and it is leveraged to commodity prices and that copper will go over $4 a pound.
Have a large resource that they are building but it is only the low-grade portion. They need a high-grade portion to the project. Haven't shown material volumes on the project. If we go to $4 copper, the stock will do better and could go over $1.
Haven't had any high-grade drill holes for some time. They've all been low grade or mediocre. He was copper is going to go over $4 a pound in the next 12 months. Well-financed.
Management hasn't given up, but they haven't got the drill results yet that would make believers. Very speculative. Look at it under $.50. There are a lot of other companies he would prefer. Not bullish on copper.
Waiting for them to raise the money they need to continue drilling. Management believes they have an asset that will be worth more than present stock price.