I'd also like to have a stab at what these Glandore results today mean in the longer term;
$300K was needed to be spent to acquire 50% of Gdr.
Hole 2 confirmed some high grade and shallow historical hits (obviously the highlight).
IMO, Jimmy Doughnut looks likely to be an economic small pit (Small JORC) that will probably earn SAU a few million dollars. I'm not expecting anything resembling Cannon open pit here. However, high grade and near surface tends to favour the economics of a project.
Laveolus needs a lot more drilling and I'm sure this drilling will occur soon. I'm not nearly as certain that this is an economic deposit. Early days though, plenty of potential still!
Lake consoles looks really promising. This could end up being the best of the bunch (present targets) at Glandore.
I rate today's announcements highly. The area will almost certainly have one small economic deposit, within 2 years, and still has potential for much better. SAU's business model is to find small economic (reasonable grade) deposits to fund "Elephant hunts". Always keeping the dry powder available for the Geos without CRs. This is a very good and responsible Business Model for a micro cap.
SAU Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
