AUR 14.3% 0.6¢ auris minerals limited

In the meantime, diamond drilling is happening/has happened and...

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  1. 11,557 Posts.
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    In the meantime, diamond drilling is happening/has happened and no news there on visuals.

    The RC assays can't be too far away - 'in the coming weeks' the 28/9 ann said.

    It's worth a refresher of these sections of that ann:

    The RC drilling has mapped the geometry of the oxide copper mineralisation which will be confirmed with laboratory drill assay results, expected in the coming weeks.

    A 550-metre diamond hole has been designed to test the thickest part of the modelled down-plunge projection with the objective to target sulphide copper mineralisation at depth, test current interpretations, develop further understanding of the structural and geological controls on mineralisation and enable a high powered DHEM survey to look for mineralisation beyond the current drilling...

    Drilling is due to commence immediately and will take approximately two weeks to complete. Samples will be dispatched once all geological and structural information has been collected. We anticipate up to six weeks for assays to be returned and a thorough compilation and interpretation of all results to date.

    Management is not able to sit on price-sensitive information unless it comes within the exception list as per http://www.asx.com.au/documents/about/abridged-continuous-disclosure-guide-clean-copy.pdf. Imo, an unfinished issue of shares resulting from an underwriting agreement such as was entered into between Somers and AUR would not qualify as an exception.

    Something's got to give, and soon! Either the agreement gets cancelled or it gets completed with all shares paid for and issued. Only then will the market get fruitful and complete news about the RC and DD drilling. The company can't release price-sensitive information while the agreement remains on foot! That's how I see it!
 
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