RE: it's coming ;-)12 Sep 2018 11:55
IMHO RNS doesnt give a lot of info, other than 165 cores completed. Although to hear anything makes a nice change.
RNS raises a few questions and observations for me. One question i would have is why these cores werent sent to be analysised/sampled/checked in batchs, using results to better target future core driling, rather than save them all up for months to check en bloc.
Interesting also they are now mentioning the pipeline, and propose to review the technical plans of the contractors that may or may not have submitted quotes/designs. Again no confirmation such as 'we are reviwing the five bids submitted with a view to placing an order soon'. They are light on detail here as usual, those quotes - if any have actually been given, would have been submitted some time ago, and there should be no need to have a "preferred bidder" process, delaying things further. This is a small tin pot mine with one excavator not some massive open cast pit and the photos of the contractors on site appear to show that they are also relatively small (although important) fry also, no need for 'big buisness' type of processess delaying something so important.
As you'll all no doubt know im a sceptic of this companys BOD due to the enduring silence over such a long time, and im only in here with a very small investment, which i have already written off, so i am clearly pessamistic in my outlooks, i try to remove the BS and view this more in simplistic terms, as i feel the poor information flow leaves no alternative other than blatant head in the sand guessing, of which there in inevitably too much of on here.
The one word in the RNS i realy dont like is "ultimately" which Larry quotes about the Jorc being completed.
This gives no clue at all as to whether this will be next week, next month, next year or never. This has been talked about for ages and ages now and still seems as close as the horizon.
Some big expenses also coming up soon then,
1 The 165 cores samples to be tested
2 The water pipeline once decided upon
3 The extra groundworks contractor now employed to clear the approach road (why not do this ourselves)
Lets hope there is no more fund rasing required. My wallet is closed.
As ever though time will tell, i hope it all comes good in the end.