I heard that the big companies like Ausdrill had major contracts with Goldfields at St Ives with the various development projects there, Invincible, Speedway etc With big company contract rigs tied up the small operators will be in demand.
I think the average investor under estimates the lag time involved in planning driling, contracting drillers and getting a POW from the Mines Department. Haven’t been involved with driling on the WA scene in recent times but the turn around for a POW used to be about 28 to 30days, if my memory serves me correctly.
This company is well funded to keep exploring the potential of its various prospects.
What I like about the drilling at Lode161 is that the geometry is proving to be pretty simple in the sense that there are not many holes that have been drilled and have not intersected the lode. It doesn’t seem to pinch and swell very much and it’s still open almost everywhere you look. The grade might vary but you don’t seem to get a high grade intersection sitting right next door to a NSI.
The Christmas party here might end up being in the new year with a little luck. Esh
AOP Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held
