steady rise over the next 4 months8 Dec 2017 18:07
Just listened to podcast and it was a good update, some good questions.
My take from it on each target:
M2 - the resource will be increaed to > 20Mt grading 0.52 % Cu, he sounds pretty confident about that while the other holes will test for possible extensions here to expand the resource in the future. This can be a mine in its own right (open pit)
M4 - confirms what I thought earlier, that this is probably the best exploration target, even more so than Sharktooth, why? because the target size is as big and potentially bigger than Sharktooth, in fact the company has been waiting to drill this target for years, since they came onto the market. The reason this target is potentially better than Sharktooth is that it looks like it can be an open pit mine, which is much more ecoomic than an underground mine.
Sharktooth:
The 2nd equally exciting exploration target, has the potential to be a big discovery. This is a deep target and will be an underground mine if it pays off. David mentioned at the investor presentation that it’s only 3 holes, but these are very deep, upto 800m each so in total 2400m drilling which is significant, he mentioned that if just one one these holes comes back with 1%Cu over a decent interval than the shareprice will take off, his exact words.
Timescales:
M4 - drilling has started and will finish late Jan/ early Feb, followed by 4-6 weeks of assays, with an RNS in March
M2 & Sharktooth - drilling ongoing and part of one phase, it will complete Feb/Mar, with M2 results in early April, Sharktooth results mid-April.
I predict that the shareprice will start rising steadily in anticipation of results from early January onwards.
GLA
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