Ann: Drilling Update, page-191

It isn't close to being correct.
Step back...look at everything...

I didn't want to post this til after the sellers (weak hands that don't understand GLN, yet brought in.) finish.

Getting rid of them and getting NEW fresh buyers in the 40-50 is great.

I wanted DH #2 to have a good brine hit on Monday...It still may get that hit. If it does all of Candelas is packed with brine and 700-800+ .
From this you could lock in a 3.5M JORC...IMO

However, you comment... Without brine in DH2,Candelas is worth about 50 bucks.
is silly...it's VERY much...IMO.

Have you did the math?
No.

DH#1 is a winner...Look at GF's little map below.
everyone here is in GOLD mining/oil mode. Brine is different. VERY different.

If DH#2 doesn't have brine it hurts the 3.5M JORC...it does...I admit that.
However, DH #1 blew me away. (I thought we'd get crapy numbers. 300-500)

With a gold miner...they'll drill 5-20 holes? They'll update after ALL drilling is done.
With GLN...we are set for 5 holes for a maiden JORC but, are probably going to do another 10+

So let's say #2 is a dud...now look at the map...Then GLN goes back up to between line 2 and 3. It hits the SAME as DH#1...that WHOLE area is packed with BRINE...3km by 3kms!!

Maybe the top half has brine...maybe the bottom part doesn't? Maybe?!
Or Maybe the south part does and GLN drilled in the worst spot ever!

We (well I am!) looking for a low-end JORC of 1.5M that gives GLN a market value of 200-250M aud...

DH#1 was THAT good...200 metres of 800+ brine! Are you nuts...that's A LOT!...and it's there now!

The 3rd or 4th DH will be to Line 3...That likely to be the same as DH#1 as it's so close...yet it's 3-4 km's of brine.

That's your 1.5M JORC there!

If DH #2, 3, 4....15 all hit 700+ the your looking at 3M++?? JORC.

I'm looking at the MC of GLN right now...less then 50M
Just GLN has already PROVEN Brine is on their land. That locked in the 200-250M valuation for me.

The selling is because no brine is in DH#2 ?
If there isn't...get a grip...there lots and lots of land in Candelas to go... as we know...FOR A FACT some of it DOES have good brine on it...

Again...Step back...do the numbers...look at how big Candelas is...look what we had in the til. Do the math YOURSELF for possible JORCs

Still more dilling to go...all over Candelas...it's as BIG as a city.
GLN...IMO has the 1.5M JORC locked in...= $250M MC

Let the weak hands sell...
do the math right/LOOK at the map...you'll see the value too.

SRK said this could be World Class...they have ALL the data and are boots are ground...let them drill. Know what you own in GLN!


IMO
DYOR!!