NST No.1 holder (In a micro)?, page-29

You may be right about the team being depleted. However, I don't see Neptune as a disappointment. If you look at the drilling spaces you will see that the initial lot of drilling was more of a preliminary nature.

The exploration process has to be routine and methodical - soil samples, surface geochemistry, some ground geophysics, scout drilling, aircore drilling, assay analysis, rock analysis, RC, DHEM then if still all 'go' diamond drilling and mapping along the way as well. It's a slow process.

No-one should expect news for a while here imo as IGO goes about its business and ALY will only be able to report when IGO has something to say. IGO has many things on its plate. The usual thing has been news every few months. IGO runs the exploration program. ZZZZZZZZZZZZZ can set in here as a result.

IGO started this in Feb 2014 and it still has a fair way to go too. As you probably know some months ago IGO rationalised its exploration program and in the process dropped some. The ALY jv was one of the few that it retained though.

This is my post 22/1/16

IGO announced expenditure cuts yesterday and which involved a reduction in exploration activities. The ALY farm-in was spared, so that is good news.

"Greenfields exploration expenditure will be rationalised to focus on in-ground expenditure on three projects that deliver belt-scale opportunities, being the Fraser Range/Tropicana Belt, Lake Mackay and Bryah Basin projects."