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That is obvious isn't it or otherwise they might just have to send the whole 650 metres of core off for assaying. Oh, but then they don't do that because they have various ways of analysing the core so that they only need to send the juicy bits off for testing.

There are posters on here who do not seem to understand the way these drills work.

"The Company expects to release a further detailed operational update covering the latest developments at Molopo Farms in the near future."

This is quite due. The drilling started on 21st September, so they have been in the ground for 6 weeks - or 43 days - with 950 metres drilled. They should know exactly what they have hit - or not hit.

Just for reference, at the recent Tati gold drill with the initial results announced today, drilling started on 22cnd August and finished on 2cnd September for 490 metres. On 2cnd September their exploration update said:

RC Programme
§ RC drilling programme completed with a total 490m drilled across 9 holes for an average drill hole depth of 55m.
§ Drilling was designed to test for potential along-strike and down-dip extensions of the gold-bearing quartz vein structures, or 'quartz reef', worked at the former Cherished Hope mine located, in close proximity to the drilling sites, on the Project.
§ Quartz reef was successfully intersected within all holes drilled, with multiple holes intersecting multiple sub-parallel quartz reef structures. The largest single intersection was from RC hole CHRC00007 which intersected quartz reef from 11-19m (8m intersection).
§ Sulphide mineralisation, including chalcopyrite and ****nopyrite was logged within the quartz reef and in some instances up to 5m into the vein footwall.
§ RC drill chip samples have been prepared and sent to Intertek in Perth, Australia ("Intertek") for accredited laboratory assay testing to determine gold content."

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

"My thanks to the team in Botswana for the completion of a safe and effective drill programme. The samples have been prepared efficiently and sent to Intertek for assay testing and we look forward to receiving the results. Naturally having intersected the targeted geological structures repeatedly and at shallow depth, we are particularly enthused with progress thus far."

My point is that by the time the drilling was completed, they were able to announce what they had hit and that the core was being sent off for assaying.

Anyway you look at it, they will have analysed the core by now and they will know what they have there. Maybe it is time the share holders were informed.

DIAMOND DRILL PROGRAMME UPDATE

The first two holes into target T1-6 have been successfully completed as follows:

- DDH1-6(B) drilled to 650.0m

- DDH1-6(B)(2) drilled to 300.2m

Downhole geophysics is currently underway at DDH1-6(B).

The drill site has been prepared at target T1-14 ready for diamond drilling into the electromagnetic superconductor target identified. Drilling at T1-14 is expected to commence shortly.

The Company expects to release a further detailed operational update covering the latest developments at Molopo Farms in the near future.

We'd all love to be wrong...............but the market is harsh at the moment - as PJ and everyone else keeps saying - and a harsh market needs exceptional results to move a share price upwards to any noticeable degree. These initial drill results are not exceptional.

There was always going to be gold there as they are drilling into a previously worked gold mine but 1 or 2 metres of pay from over 50 metres of drill hole is not going to impress the market.

The grades are okay but they are over far too short a distance to be of any real value.

It looks and sounds like they have just picked up a once producing but small mine that is largely worked and then just assume that it is going to 'turn to gold' so to speak. Unfortunately it doesn't work like that. What's more the price of gold is no longer at a high, and production costs are - ie. electricity, fuel, etc are rising all the time.

I agree - these initial drill results look very underwhelming to me.

9 holes for 490 metres equates to roughly 54 metres per hole. 3 metres of gold from Hole 1, 1 metre from Hole 2 and 5 metres from Hole 3 is not going to make a commercial discovery by a long way.

I am afraid that PJ is now throwing words such as 'significant' and 'bonanza' around with little real meaning attached to them. From a 50 + metre drill hole these grades would need to be over lengths of 10, 20, 30 or 40 metres to have any value. 1m @ 5.57 g/t Au from 15m sounds great but over a 50 metre drill hole it is pretty poor.

Absolute fools think that nothing is being said because it is all price sensitive information - *******s. Nothing is being said probably because there is nothing to say.

Not looking very good here. I can assure you that if they had hit the nickel as predicted by all the fancy surveys and modelling they would be shouting it out from the rooftops by now. Silence is unfortunately the one thing you don't want from a commodities drill campaign.

core not care.............

Almost makes me laugh when the share price starts an upward momentum. For a split second I thought that maybe an overdue drilling update was out but then reality kicked in and instead I took a look on Wishbone twitter and there it was - the same tiny bit of care being shown off to the world (and need I say the only reason for the share price upwards movement today).

One thing is certain they are not getting the lengths and grades that GGP found at Haveiron from the very first drill hole. If they were they would be shouting it out from the rooftops!!!!!

On the contrary, I am waiting for them to hit anything before buying in. Just because the drill area is in the Haveiron province doesn't ensure that they have got a good prospect, or even anything at all. This drilling at Red Setter has been going on far too long now and is in fact sounding big warning bells.

GGP's first drill hole spud on 18th April 2018 and drill results to 618 metres were announced on 25th June 2018 - just over 2 months later. WSBN started drilling at Red Setter on 17th June 2022 and got a second rig on site on 15th August 2022. Now, nearly 5 months later, we have had nothing from them. That is a lot of drilling not to have hit anything of note - apart from this tiny scrap of core that keeps finding its way on to twitter.

On top of this the drill results from Queensland were disappointing at best.

Looks to be the same piece of core as before - only cut in half. The real problem is that if this is all they have got to get excited about after all of the hundreds of metres of drilling completed so far then this prospect is well and truly dead in the water. It certainly won't be another GGP size prospect - Results from First Drill Hole of Current Campaign at Havieron - 275m at 4.77g/t gold and 0.61% copper (275m at 5.75g/t gold equivalent*) including 11.5m at 6.23g/t gold and 2.49% copper from 462.5m; and 7.5m at 32.83g/t gold and 1.20% copper from 482m.

I doubt what we can see if anywhere near 2.49% copper or even 32.83g/t gold - let alone over 11.5 metres or 7.5 metres. This looks to be about 1/3rd of a metre.

After the Q1 trading update in April the SP rose from 6.75p to 20p over a couple of days. We are not even at 6.75p now, even after a 100%+ rise, but things are better now than they were then with new contract wins, 'significant contract extensions' and the first contract in the US over the summer.

"I'm afraid ART appears to be another one with the attention span of a goldfish."

A goldfish that has been holding here since SULA days, long before Paul Johnson took over. Pre-2017 in fact, while PJ only arrived here in the summer of 2019.

Maybe Kalahari Key will sell the rest of their ownership to POW. That still doesn't mean the prospect is worth anything. Results are the key here and so far they have been disappointing. Basically they are pointing the drill into the ground and hoping. All of the geophysics so far has not helped - other than to give them hope and make them go on with the next drill.

Maybe Kalahari Key as the operator didn't want to pursue what had previously only been a very disappointing few drills on a project that had almost been forgotten about. Maybe they didn't want to pay the bulk of what is likely to be an expensive drill campaign. Hole 1 has gone deeper than planned, the 250 metre side track is extra to planned costs and now all of a sudden T1-14 also needs a deeper drill as another anomaly has suddenly appeared.

Maybe POW had to take on the bulk of the ownership and operator or this would not have progressed at all.

To be honest I was lured in here with all the fancy talk about hitting the side of the massive conductor which is suddenly not where they thought it was, and all the theories and diagrams and scans and podcasts and presentations.

But in reality and looking at the previous rather poor results from the earlier drills, this is just the prospect to sit out and wait and see if they actually do hit anything of note before getting too involved.

But it still doesn't say that the drill has hit anything worth getting excited about. This was meant to be a drill into the heart of a massive conductor. Instead it is all sound a bit like the first T1-6 drill, when the assays finally appeared 3 or 4 months after the drill was finished.

They were hardly very exciting:
o 4.8m @ 0.2% Ni from 292.7m
o 4.1m @ 0.49% Ni from 309m, including § 1.6m @ 0.72% Ni from 309.6m
o 16.7m @ 0.16% Ni from 501.8m
o 10.9m @ 0.13% Ni from 518.2m
o 3.4m @ 0.28% Ni from 594.4m

Even the shows from the bottom of the hole that they seem to have found in the current drill were very poor - 16.7m @ 0.16% Ni from 501.8m is hardly commercial and certainly not at that depth.

Oh and I tell a lie. T1-14 did find some nickel:
Significant nickel intersections 1 include:
· 6.0m @ 0.17% Ni from 180.0m in harzburgite rock immediately above a fault zone at 186m; and
· 1.0m @ 0.11% Ni from 194.0m in serpentinite with a partial breccia texture within an intra-fault zone totalling 9m @ 0.07%Ni between 192m and 201m downhole.

though again not commercial and nothing to get excited about.

Another presentation - rather fancifully labelled an Investor Webinar next week. I do rather feel that Paul Johnson likes the sound of his own voice far to much by the huge number of podcasts and presentation he does these days - unfortunately mostly with nothing new to report. If he just learnt to wait until he has something decent to report and talk about then these would be far more beneficial and useful and even interesting.

As for Molopo Farms, the lack of communication seems to say it all. The first T1-6 was hardly very exciting and nothing in particular was reported during the drilling - (as had previously happened at T1-14) - and it was only after several months of inspecting the core and sending the best bits for assaying that the specs of nickel were eventually found. However the lengths and grades were nowhere near commercial, hence why no further drilling was planned at the time. If the belatedly concluded theory that these nickel shows were that they had scraped the side of the massive conductor was accurate then surely they would have been shouting visual results from the rooftops several weeks ago (and they would obviously have had a hand-held XRF scanner on site to record any such results).

Nevermind, there is always the next drill - T2-3 - and the one after that - T1-3 - and if neither of them hit any massive sulphides then it doesn't matter because T1-14 , which found absolutely zilch during the first drill is now suddenly the best prospect of all.

However if the first drill isn't a success then they will likely have problems with their drilling contractor who will not want to take payment for drilling services in shares at 2.5p if the share price is hovering around the 1p mark. Drilling costs might suddenly rocket and with it the need for more placings.

I will be happy to be proved wrong but this is not looking too good at the moment.

Oh, and just a point, Paul Johnson's previous discovery in Botswana when he was the CEO of Metal Tiger was not much due to his efforts. The operator was a company called MOD Resources who owned 70% of the project against MTR's 30%. MOD did everything and MTR were just passengers. Finally after the discovery, which only took MTR's m/cap to around the £30M, MTR were bought out by MOD Resources who then sold the project to a company called Sandfire.