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On the other XTR forum, one poster said that on the 28 Sep 2021 RNS, Hole 20-21 at Racecourse, Lachlan Fold, NSW, Australia could have been completed. Also, that Colin Bird, Executive Chairman, XTR could have had a preliminary report by the time of the London shareholder meet on 14.10.21.
The poster also thinks HOLE 22 & HOLE 23 could be in progress at -----SE ANOMALY----at Racecourse which Mr Bird has talked so much about. The Racecourse SE ANOMALY is said to be as big or BIGGER? than what has been drilled in the North?
I am only repeating what was posted so I am leaving it on this forum for further discussion or further comments if any given Mr Bird said he read the forums.
News, Sat 16 Oct 2021.
News, that all sounds a bit fishy to me . It was in the 28 Sept RNS that we were told: ' Phase 2 drilling programme at Racecourse continues with BRDD-21-020 and BRDD-21-021 underway. So the message was 28thSept was the start (give or take a day or two) of these holes not there finish, unless someone is suggesting they are purposely delaying info on each hole start and finish by over a week. Could the poster possibly just misread the 28 Sept RNS. I'm sure there is a slight delay in the system but I am dubious about it being that long. I expect we will see the hole 20 and 21 finish RNS on Monday or Tuesday,but we will have to wait and see.
Imho 20 and 21 are complete.
As quoted by Stevemc a few days ago
"The RNS on the 13th October said "to date 15 diamond drill holes have been completed". That means holes 20 and 21 finished...."
However Colin prefers, rightly so, to release some professional visual interpretation of the drills ( eg at x meters there were y meters etc etc)and this is important as we're not providing xrf info. I'm sure given the professionalism of the operations at Bushranger there are certain checks and balances before the "hole completed" rns is released.
I think this will be in the next day or two, unless Colin wishes to present a broader picture.
I'm also impatient and checking for a 7am rns but I think the chess pieces need to bed carefully moved towards the endgame and I believe that's the strategy in hand.
Yes I know we're playing poker....
How on earth do we create a question then somehow in the same breath, create an answer/ solution for them. Surely any material information that can effect the share price in either direction, cannot be Withheld. Did anyone manage to actually ask the question of progress for these holes during the meeting. So whilst we are in the process of answering our own questions. Here's mine. The Drill has been going sinse the 28th Sept and only just completing with mega results and are now being prepared for an RNS On Monday. Even better, it could still be going. Wouldn't that be nice.
Morning andmillsy
When Colin was talking the other evening he mentioned that he thought it more likely that the anomaly in the SE if sizeable would be a second pit rather than a larger super pit - but his slide presentation is all about how big the porphyry's can get (images showed 3km - super pit in Sweden). Do you think his slides were reflecting potential increased sizes of the first pit after the 2nd phase of drilling and not as a result of a new 2nd porphyry discovery in the SE...?
Did you sense that the proving up of the anomaly in the SE would be a carrot to help draw a purchaser in after the initial 2MT+ (AAL option) / decision to mine is proven ?
IMO ATB Shorn
Hi Shorn
Interesting point - I hadn't thought of it in relation to extending the current open pit model but looking at the next batch of holes for Phase 2 overlaid on the IP data then I think the feasibility of a much extended open pit including the South East anomaly appears feasible. By my reckoning it would be a 2km long from the north westerly point of the map (red boundary) to the most south easterly new drill hole (purple colour). So in relation to the Sweden example very plausible.
Of course it will depend on what they find when they drill!
"Did you sense that the proving up of the anomaly in the SE would be a carrot to help draw a purchaser in after the initial 2MT+ (AAL option) / decision to mine is proven ?"
I took away from the presentation that AA would definitively want to take the entire licence rather than leaving the SE anomaly for potentially another acquirer. I recall Colin saying that AA wouldn't want anyone else on their doorstep. I think there is a bit of a rush now to prove up as much as possible either as extended open pit or purely value of resource in the ground in order to have the right ammunition to contest / accept any early / opportunistic offer from AA.
I really would like to listen to the video again however to properly consider the answer to your question.
Anyway hope this helps.
Cheers
Cu on 15th Oct closed at $10,552.50 = +9.24%. Just how high can it go in the near term?
andmillsy
Thanks for that, and yes i too would like to listen again.
Defo agree with the whole license being bought, but i couldn't see how CB could know that the earth between the current pit and the SE anomaly would not contain some degree of Copper (pay dirt) - similar to the extension to the east of the current pit.
But you are right there does seem to be an immediate plan to get the 2MT proven keeping close to the area more accurately modelled.
Though like theiceberg said on one of his posts or his blog it seems like there's two parts almost : step 1 open pit mine (2MT) and step 2 another porphyry (pit) or deeper mining....
IMO ATB Shorn