A bit of a change, page-49

We have had runs before and they turned out to be false alarms. Going back a year or so ago there was a big run from about 1.5c to about 2.5c (relying on recall here) that was not supported by any FA. Someone made a lot of money out of that!! There have been runs since then but not as grand! Imo, some people with money behind them have played with the SP for profit-making purposes.

This may, or may not be, another such run. I'm wary though!

If I am accused of being a handbrake here, then it certainly won't be for the first time.

The Karonie drilling has not started yet, and no sign of 'when' either.

Anyway, don't let me hamper the excitement!

There has been a recent sign of IGO life shown about the farm-in with ALY. IGO has been sluggish in its approach to its exploration for over a year now and usually with no mention in its QRs; however, the other day in its Preso it showed the Bryah on its exploration map. I know that it's not much, but at least that it shows that it's still interested.

This is from the last QAR - my emphasis:

Base Metals Exploration (IGO earning up to 80%)
Leading Australian base metal and gold producer IGO is exploring and earning an interest (“IGO JV”) in the whole and part tenements that cover the base metal prospective area of the Bryah Basin Project (Figure 5). Under the terms of the IGO JV, IGO can earn up to 80% in Alchemy’s interests (excluding iron ore rights) through Earn-In Expenditure of $6M within five years, with Alchemy free-carried on further exploration to completion of a PreFeasibility Study and then carried on an interest-free deferred basis for a further $5M of Definitive Feasibility Study expenditure. Expenditure by IGO to the end of June 2017 is approximately $3.4M.
During the quarter IGO commenced a 142 line km moving loop EM (MLEM) survey over three key target areas; Neptune North, Magnus West and Central Bore. The Neptune North survey (~18 line km) covers an area of possible interleaved Karalundi Formation and Naracoota formation, and adjoins previous surveys to the south. The Magnus West survey (~56 line km) covers an area of the stratigraphy where gravity data indicate a possible major early transverse fault in the basin. The Central Bore survey (~66 line km) covers an area where magnetic data indicate early basement structures and a cluster of mafic sills, suggesting an area of increased heat flow.
Work proposed by IGO for the September 2017 quarter will be dependent on MLEM results but may include RC drill testing at Neptune, Magnus, Central Bore, Churchill, Moby and/or Bullgullan Bore.