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'Results were due Oct ...' Absolute nonsense. The company did not say October for results.
2020-09-07 RNS states, 'The Company does not expect to release results until following the end of the programme and once laboratory assay results have been analysed and assessed. The underground bulk sampling and drilling programme is expected to run for the month of September 2020, with assay results to be issued some time thereafter, depending on the normal timelines and workloads of the independent assay laboratory.'
The drilling was originally scheduled to be finished by the end of September, but was extended into October, which we knew already. '...assay results to be issued some time thereafter, depending on the normal timelines and workloads of the independent assay laboratory.' If you bothered to check the time delay between end of drilling last year and issue of assay results you will see that assay results should be expected end of December beginning of January, which I have already pointed out.
Stop talking shyte and do some proper research.
@Phoebus
The assay results will be from the analysis of the bulk samples as opposed to the coring.
As you correctly quote "expected to run for September"
Giving about 2 weeks for laboratory work, then mid October seems entirely reasonable from the below.
There has been an extension of the site investigation work after the completion of the September site investigation and the cessation of work for a week . I have asked the question many times without answer, whether they will present the result of the September sampling or aggregate them with the ongoing sampling. My understanding is that the results will pertain to September's investigation however the wording is vague because "following the end of the programme", "programme is expected to run for the month of September 2020" could be promogulated as "following the [site investigation] expected to run for the month of September2020" OR "follwing the [site investigation] which was extended into October 2020"
I would prefer it if the company clarified this, as they clarified and confirmed the effect of Wales lockdown on progress.
Nevertheless, it is not of any consequence to the current operations of the company.
I have held the view that the assay results would be out in mid October, as evidenced by my previous posts and following my above thinking.
Much as I would wish abundant gold to be found, there is a real possibility that disappointing grades may be found in this phase of investigation. Dissmissing the opinons of others who present conclusions which are contrary to our hopes is a form of confirmation bias. It weakens our ability to accurately analyse and perceive.
Sorry, but I disagree. It took a lot longer than 2 weeks for results last year.
And I quote back to you, 'Dissmissing the opinons of others who present conclusions which are contrary to our hopes is a form of confirmation bias. It weakens our ability to accurately analyse and perceive.'
@Pheobus
Previous turnaround time as a prediction of future turnaround time is not an unreasonable assumption to make
Testing when I was in geotechnical work took about 2 weeks to get back from lab which is where I got that timescale
I can't find an RNS that refers to October ... I only see "expected to run for September".
It's not unreasonable to reach a suspicion that the results are delayed because the initial samples may have had disappointing grades and waiting until more samples are available may improve the results. Changes to plans tend to rattle the market as they may be disguising unwelcome occurences.
From the latest RNS I undertand that they are on the final drillhole and have 8 tonnes of bulk samples to recover.
How long did the assay results take last year ?
@elir71 - yes my first thoughts on the further samples was more "Oops not many sparkly bits in the first lot, better take another even bigger one" rather than "Yes, plenty of gold showing in the first bulk sample but lets take more even though it will delay things by a few weeks"
Apart from stubbing their toe on a massive nugget on the floor, they can't know about the results until what they've collected has been assayed.
The additional drilling and bulk sampling is to investigate further the mine with a view to determining its future commercial potential.
@Phoebus
RNS 1906V 29th November 2019 Completion of drilling
RNS 1831B 28th January 2019 Results of drilling
so indeed it did take two months the last time....
If the same timescales apply with this then if they report on September 2020 investigation then results, on the above timesscale, would be start of december. If they aggregate the result then it looks like being at the start of january 2021
Edlir71, that was exactly what I based my estimate on. Good work.
Here's quite an interesting clip on the assaying process. I take from it, that the bulk samples are going to be more representative than the core samples (though of course the core samples can "see" further").
https://youtu.be/cuQjsydJIyI