Member Info for miker444

Agree Daz and he has upped the drill count from 24 to 30, a new anomaly 4km x 1km has been found in addition to what already existed and I also read between the lines in that GH by upping the drill programme is confident he has a very accurate 'map' of where the gold now is, he really will not want to waste money on extra drills ( which he doesn't have to do ) unless he is as certain as he can be that it will prove up the mmi and dsg findings.

As someone else posted this morning the mmi results are an indicator rather than physical proof in that they are the molecules which travel up through the soil from the source mineral be it gold copper nickel etc. They will be in ppb and its not the same as g/t or can give a reading of g/t which the drills will prove one way or the other. Obviously the higher ppb the more concentrated the mineral source will be but it still is only an indicator ( a very good back up though ) of what actually physically is sitting there. Its the drills which will be the catalyst. Just a few more weeks. atb

need a find of 1 g/t or more from the drilling and we will become a totally different company in the eyes of the market, judging by the sheer amount of potential plays that is going to happen. Drilling whilst happening before end of June ( Q2 ) will seem a lifetime away!

Excellent post Ob1, also a large 4km x 1km anomaly found which no one had picked up before not even Newmont so it looks like gold is prominent in the region as a whole.

rns's close together, he also avoids where possible the 7am rns as of today so I expect another one soon possibly by end of the week.

sees news of an interview keep us informed, I will be watching Proactive Investor forum for such.

GH states confirmed existing gold targets and confirmed new targets. New targets, that may be why 6 more holes planned.

for sure we could have had a really bad rns stating no gold anomaly found so it is great news and we can look forward to drilling results on many fronts. It is significant GH has upped drill numbers from 24 to 30 which suggests he has found hotspots otherwise why increase the expenditure. Think we will get more detail in an interview.

soon or proactive investoe interview

being drilled moved up from 24

expected. Fantastic News

It is promising and news and deals about to land but we all know mm's will play this whilst they can / no actual news, they will see great opportunity in making some money themselves, it is what they do after all. That said once the first piece of news lands ( and there wil be many ) the revised MarCap will dictate the sp and mm's will have little control of taking sp up and down at will. Not long now. atb

A JV on licenses would be even better as we get an initial lump sum i.e 50% and then retain an ongoing income / royalties for the life of the mine. It would shore up the company and provide working capital to move the other licenses forward without the need of placings / dilution and even as GH last interview stated he is always on the lookout for further acquisitions ( think he used Black Hills as an example)

of just �60m will get us back to 2p, any one of the licenses could command multiples of that if gold is found in commercial volumes and yes in the same breath they could all be 'dusters' The FireTower license on Tasmania is practically at the surface and gold can be seen in rock sample / chippings so it would command a higher price per oz as the costs to extract is as low as can be for mining companies. GH said they are exploring the possibility of 1m oz there, not mind blowing but it could command $90 -$120 per oz easy because of that and with gold base level holding firm and in an upward trend that could give sp 3.5p alone ( �100m MarCap divided by shares in issue). I have a feeling FireTower will not be our biggest discovery by volume so staying put but respect all PI's have their exit point. atb

Hi Franco, I have to say that although there are individual Pi's who have got that sort of money to invest it does smack of total confidence in the company. Have they heard anything or RNS due that is debatable as a buy that size within a few hours of rns could leave them open to insider knowledge accusations, although it would not be the first time and as someone just pointed out most of us would have trouble securing a buy that big with the sp this low so mm's happy with it. My point is a buy that size is not on a whim or gut feeling. atb

as the saying goes "Every dog has its day!"

At Havieron there are 4 holes at a total depth of 2600 metres so on average each hole approx. 650 metres. At EG not sure how deep the 24 holes will be or need to be, assume if the mmi results are top notch then the incentive will be they will drill to suit within the bounds of commerciality / return. atb

A fairly high number of sells although most are small volume by transaction, I am assuming that whilst we wait some are looking for quicker returns, bpc enticing a few perhaps. Personally staying put as to move now with news due is not worth missing out if we do find gold in commercial quantities but each to their own.

The delay apparently was unavoidable due to not drilling in Aussie Summer temps of 40c+, our May is now equivalent of Nov over there.

It does rubber stamp that we do have news due on several fronts which increases the likelihood of success but yes that would be a good order to get news as it would then lead in to the 24 holes being drilled at EG from the MMI results. I know its due by Q2 which could be end of June but hopefully we will not go to the wire and with luck only a matter of a few weeks at most.