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So, NCM release latest drilling results on Wednesday night our time. For the last 18 months, virtually every week when there have been drilling results the SP has gradually risen in anticipation of the results. Some times the SP has then immediately fallen back on Thursday morning; sometimes it's risen initially and then fallen back as profit takers sell; some times (not recently) it's risen before and then risen some more the next day.
So what do I foresee? I don't know of course. But I'd be surprised if we didn't see a rise in the coming days and in anticipation of that I've been buying over the past week. And if there is any more weakness tomorrow morning I may buy some more.
As others have suggested, there are lots of drilling assays to catch up on and no reason to believe they won't continue to impress; and just a chance of some other news.
GLTAH. Casey
Casey , it's a long haul. Best to not expect any significant rise in SP, regardless of any good news. Just got to be patient.
I’ve been looking at the last drilling report.
Surprisingly there were 5 drills that had no assays.
Various reasons not a lot to worry about.
Take a look at 147,147W1 & 147W2
147 and W2 were fairly long drills testing the SE deeps from the NW getting to 1180m and 1250m vertical depths/ 760 and 830m ore depths.
What’s happening with W1?
On the plan it looks as though this drill enters the orebody to the right of the Dyke.
It has a drill length of 900m while the other 2 entered the ore body at around 1,000m.
On section 4 it shows these drills passing through the Dyke outside the orebody.
What looks to have happened is this drill has found the Dyke sloping southeast and hit trouble getting through it.
Dolerite is a very hard brittle rock and can damage or wear out diamond drill bits.
With the other 2 going to the SE deeps, I don’t think W1 was finding out where the Dyke was on the NE side, although it looks that way .
More likely the Dyke damaged the drill bit and had to reroute around to drill W2
Drill 147
This drill was infilling just under the indicated resource and found 21.6m @ 4.3g/t & 0.15% cu in a crackle zone to the NE of the Dyke.
That’s amazing to find that at that level which is close to what I believe to be a weak spot.
Bodes well for the crackle grades
Drills 117W2 and W3
No significant assays
These 2 poked the drill bit into the top of the ore body and only went in 60m to the left of the Dyke.
I think these 2 were a case of the historical drillers getting through the Permian cover and having to abandon that route twice.
Remember the rerouted drill 117W6 gave us our best result of 120m @10 g/t and 0.66% and expanded that zone of sulphides and high grade breccia
Drill 57W8
No significant assays
For this one I looked back at 57W7
This drill found sulphides of 12.8m @ 5.3g/t from 962.7m to 975.5 and then crackle/ cemented breccia down to 1003.7m
The drill finished &1068m
Drill 57W8 went down to 1157m
I think the no assays are referring to the length between 1068 and 1157 testing the extremities of the ore body not achieved in W7
Drill 53W4
No significant assays
This drill just reached the ore body another one that had trouble getting through the cover sequence .
The respect for these drillers getting through this cover sequence with very few failures must be very high in my opinion.
bamps = ramps night night
Add something useful then
Davieri- whatever you think of bamps' view/post you never answered the question raised on your earlier post (text copied below) - do you think Berenberg number too high or too low - I couldn't decoder what you were trying to say - or perhaps as importantly why?
"Berenberg 24P buy note30 Nov 2021 18:49
And GGP pay for this coverage which means shareholders are indirectly paying for this .....well at leat they have put 24p - thats 1p below the CEO SD 25p options. So must be impartial right? SD must think we were all born yesterday! Holding us back for II to get on board.....giggle"
I agree, Burleigh, that Bablake is being pessimistic. Accordingly, I've just bought some more, as I expect the SP to rise over the next three days.
Let's see if I'm right.