Ann: Further Positive Ore Sorting Results on Drill Core, page-17

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Chicken_Salad13

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08/05/18

14:50

Post #: 32957872
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Originally posted by Davisite ↑

@naggingnan they did let us know about the ore sorting which wasn't expected. The ore sorting result puts them in a difficult spot in regards the MRE. They could have come out with an updated MRE based just on the drilling results over the last 6 months, but the ore sorting has thrown a bit of spanner into this. The consultants doing the MRE need to go back and recalculate everything with a lower cutoff now and they can only do that once all the ore sorting results are in.

While I would have loved to have had the MRE out before May I can certainly wait until mid May (or even late May) provided we get a massive upgrade. I will be far more upset if we get a delay in the DFS, as this would be a lot more damaging.

I agree the market doesn't like delays no matter the reason. I actually don't mind them since provided there is a good reason it can be a nice way to buy in cheaply. You just have to look at how GOR has been hit because of rain putting them a few weeks behind schedule and which is likely to be caught up over the coming months.

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Good post as usual but when dealing with Grizzling Granny and the like they will not be happy until the SP is 35 to 40 cents no matter what the rationale for the delay.
The SP drop is not a significant volume yet, only providing walking around money and profit for some option holders who got in as low as 25.5 cents.
You need the patience of Moses to hold this one , but I'm "in the green and keen " with it still.

EGA Price at posting: 28.5¢ Sentiment: Buy Disclosure: Held
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Ann: Further Positive Ore Sorting Results on Drill Core, page-17

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