Ann: Positive Redmoor Study Results & Re-commencement of drilling, page-9

There you go again with your little snipes. Have you ever stopped to think that your posting style may attract negativity? Worth considering.

So to the announcement. Yep, you guessed it, I have some mixed feelings about this one. There is not a lot of new news in here but there is some reassuring confidence in what to expect going forward. Some key points:

- Confirmation of drilling and how many metres
- Finance arrangement for drilling
- We stand to lose 10% of Redmoor if we can't come up with the funds by 3rd Sept 2018. Although they say decision making will be 50/50 - I'm not sure how that is agreed upon, a handshake? Seems a bit odd and would need clarification imo.

The rest of the information re: studies, is run of the mill type information that lacks a lot of information due to much of it being not able to be released and is a bit of a 'lets just put something out there to keep the SH's happy. Most of it is stock standard mining and processing assumptions that will be subject to change as more information becomes available. Which is fair enough as at least it's something formal put to the market to provide some confidence in what they have expected and been hinting at all along. It's very likely the resource will at least double, but I reckon they will go close to tripling it if they get enough drilling metres into it in the upcoming drill campaign. If we get better grades down-dip, then that is an ever bigger bonus to the contained metal factor.

As many know, one of my main concerns for quite a while has been funding. This announcement confirms my main concern was valid and why it still should be an area concern. Reading between the lines, at this stage, Gary has not yet been able to secure funding from any Insto's or SI's behind the scenes. He has done well (or has been lucky) to secure funding through our partner albeit for a limited period of time. Which at least buys him some time to see if he can change that. We've known funding would be an issue for a long time so there would have been many discussions taking place with various parties, so that doesn't particularly fill me with confidence going forward. It's hard to raise money when you've hit penny dreadful valuation. Although, I am happy that reaching to the market for a CR at these desperate prices doesn't appear to be first priority at this point in time, but as has been discussed previously, Gary would likely be a bit gun shy in asking the market for money first. At a guess, we probably need around $1.5-2m to comfortably cover the next 12 or so months, if feasability studies are to properly start this year. We'll have to wait and see on this one.

This announcement can at least provide a base point for management to capitalise on and provide a more transparent and steady news flow going forward. So we know drilling will start in June, however, they can also use the mobilsation event of drill rigs to site as another opportunity to announce to the market. Then I'd like to see some ann's and pretty pictures of mineralised core and the odd result from individual holes put to the market too so we are not waiting months whilst they collate the data into a resource model.

Anything, anything at all on Lochinvar will be a bonus - as long as it doesn't require money from us until we increase our SP lol. We'll have to wait and see how that transpires too.