Ann: Sulphides Intersected in First Hole of Phase 3 Drilling, page-30

It’s not just Trojan, but Beowulf too. They expect to start drilling Beowulf next half, but concurrent programs will drain resources at twice the rate. They can’t rely on lacklustre results from Slate Dam to prop up the SP leading in to the next quarter. Let’s face it, they haven’t set the world on fire just yet, and I feel it’s been a missed opportunity for AAJ when they failed to strike when the SP iron was hot. A capital raise earlier at higher prices could’ve seen them well through to 2019, affording them the luxury of expanding drilling programs and limiting shareholder dilution.