"With beneficiation testing advancing, the Company will be applying for a mining licence for the Spearhole Prospects. > Regional mapping and sampling has identified new CID and ironstone gravel targets within the project area. These are in addition to the DSO magnetic targets determined last quarter using the airborne magnetic acquired last year. > Extensive CID subcrop of up to 56% Fe2O3 was mapped. Further studies will be undertaken to evaluate the size potential of the deposits. > A Drilling program to test the DSO and CID targets is being planned for the next quarter in 2011. "
1. I would like to know if the mining license has progressed.
2. Has the drilling program that was meant to be planned for this quarter (which is almost 2/3rds over) actually begun or was it stalled until the AGM finished?
ANY news relating to progress (or lack of) would be welcome - I think in general, there is too much uncertainty and until the company returns to a state of business as usual, the sharemarket will continue to value this as an empty shell.
DMA Price at posting:
17.0¢ Sentiment: None Disclosure: Held
