RE: Our neighbours23 Apr 2020 11:06
never back to 1-2p, you cant unfind the gold, only thing that could take us back to that level is NC walking away or saying its not commercial and I think we have passed that point with 25 mineralised drills in the zone all having hit. Remember interim report only had 4-5 holes to report as you had a lag in results and decemeber 2 week shut down, this time, we will get a far more detailed reports with as much as 10k meters of drilling potentially.
IMO the best we can hope for as with previous releases is that firstly they are still hitting on most and the grades remain high, secondly that the system remains open at depth and to the NW, possibly reopen in another direction looking at the step outs. We are looking for the phrase 7th set of outstanding results and the system still being open . thats about the most we can hope for I feel, bonus info may well be the scoping of an exploration decline to some more info on those step outs to the SW, what will also drive a big increase IMO is if they return more high grade results outside of the high grade zone and within the breccia, this is stated as a new type of mineralisation and give us many extra options and ofcourse adds to the overall grams per ton.
Now to the worst possible news I can imagine us getting next week. Given what we have seen and the apparent increase to 10 rigs and all of the step outs, for me the bad news would be if they are no longer talking about the system being open and have found the edges, all of the SW and step out drilling turns out to be in fact sterilisation drilling for the decline, no increase in the 150m width by had 23 that we are all hoping(Had 23 is a 300m step out), ie all holes around it and infill missed and it was a one off (unlikley given what we have seen to date) no additional mineralisation in the breccia zone, ie had 49 or 44 whichever it was being a total one off, (unlikely) So for me the down side if the report was bad would be for them to have basically just proved up further the origional HG zone and they are now going to start the decline and get mining, this would mean we will be much closer to mre than we think and prob closer to the 7.5moz figures rather than the 10moz plus we all think. BUT even in this scenario, I feel we shouldnt drop to below numis target of 6, we will ofcourse as the less knowledgable and traders get scared off, but we will recover as the LTH realise its been oversold.
Personally I feel we are risk on here and better than a 50.50 chance as someone mentioned earlier. In all probability the rig count has increase to 10, NC have continued to hit as previously, the breccia zones are now appearing to also hold high grade,the had 23 surrounding holes have hit as has the infill and fan drilling, possibly some very high grades here as they target the high grade zone. likely an increase of footprint at least including the step out of had23, but possible the others too. All of this and the gold price increasing and our SP hold