RE: Analyst Comment28 May 2025 20:48
Not always easy to properly digest a RNS during market hours, with all the commentary going on. The drilling results at the main Pepas deposit continue to be world class, and were amongst the best holes we have had so far. Encouragingly, they suggest potential for extension of the deposit towards the south and west of the main deposit. The RNS also details the work OMI are doing to "better understand the optionality of Pepas and to map out work programs to further explore and advance these options." I am looking forward to hearing more about these plans from BG.
We also now have some initial holes from Pepas North - and whilst not worldies like the previous holes, they still found gold in them (inc 13.8m at 1.24 and 4m at 2.36). These were unguided holes. However, it's still all to play for in that full analysis of these holes, alongside airborne magnetics and surface sampling will help them vector in on the gold in subsequent drilling. Again, would be good to hear from BG about this and his confidence levels re Pepas North. Finally, we have had exceptional soil sampling results at El Cedro. It's a shame that rain has stopped play, but it's shaping up to be a really exciting project for drill testing, whenever that point will arrive.
Also interesting that not much is being said about El Pantano. I believe OMI have a minimum spend requirement, so would expect this to be addressed at the webinar. Has it gone quiet because of the JV?