re: Ann: Exploration Update - Magnus Copper/G... whatsup I think...

re: Ann: Exploration Update - Magnus Copper/G... whatsup I think you might have this wrong. I don't believe magnus is the company maker here, Hermes the company maker, Wilgeen is the "funder" and magnus is the "after thought". If they do indeed find a copper deposit like Sandfire that's brilliant, however ALY has always in my mind been a gold play.

They have JORC proven 130,000oz AU at Hermes, and after continuous strong gold strikes extending the Hermes resource strike length and width, I see this as a medium term gold producer.

If they have more gold than the 40,000 oz or so they know they have at Wilgeena, with the exiting pits, roads etc then this could be a sooner rather than later cashflow to fund their other projects.

On magnus, you also need to consider they have drilled one hole only in 7 of 23 targets, they have loads of drilling to go to exhaust every possibility of finding copper.

Anyway, today's announcement is just an "update" on their magnus, I also expect some more assay results from other gold drilling programs and continued news flow on this front over the coming months.