Rover Hits and Misses at the Same Time
Rover Metals is up from when I wrote about them a month ago, going from $.055 to $.09 for a nice percentage move but not nearly as good as they should have done.
Many years ago in the pre-historic days of the Internet Barbara and I were Macintosh Gurus. In 1994 or 1995 Apple came out with removable CPUs on a card. Of course PCs had had removable CPU chips since they were first introduced.
She and I were consultants at the time and all of my customers were saying that we needed to get on the web. But for the life of me I couldn’t figure out how you do consulting for the masses over the Internet. But when Apple came out with CPU cards that you could swap in a couple of minutes, I realized that was going to be an industry perfect for the Internet.
So we became Macintosh upgrade Gurus. Two third-party vendors for Apple computers started cranking out faster CPU cards and we sold them as fast as we could stock them. There were something like 150 different variations of cards and we realized that it would be stupid to take orders for cards we couldn’t get our hands on. So on our site we only offered CPU cards that we had sitting on the shelf. We were getting full list price and sometimes more for our cards because graphic artists want speed and want it now. They weren’t interested in waiting months for an order to be filled.
We soon realized that everyone approaches the web thinking of it in one or two ways. If you are asked for a single word that reflects what the Internet is all about, people tend to either call it information or communication. Depending on how you think about it pretty much determines how successful your website will be.
A telephone book is information. A telephone is communication. Big important difference between the two.
On November 24th Rover put out a press release that I think was supposed to reflect assay results from their latest drill program. I use the term “think” because frankly it was easily the worst written press release I have ever read. I don’t know what they were trying to get across because it was written in techno babble that only a very smart PHD geologist would possibly understand or even care what it said. Read it and tell me if you agree or not.
Here is what I think is communication.
They drilled 9 holes. Assays came back on all of them. Holes CL-20-02, CL-20-04 and CL-20-09 had no significant gold values.
CL-20-01 showed 22.01 meters of 7.94 g/t gold.
On the day Rover released their press release, the shares went down 10%. In my view if you announce results as good as they released, you would naturally expect the market to respond in a favorable way. If you communicate effectively.
If you haven’t figured it out yet, those were great holes and they will follow up with a Phase Two drill program in the spring.
Rover is an advertiser. I participated in the private placement that makes me biased. Do your own due diligence.
Rover Metals Corp