Ann: IGO Commences Drilling at Bryah Basin Project,IGO-ALY.AX, page-101

I have read most of these posts and reckon that some of you need some advice. I have posted this before here but newbies appear not to be aware of how it works with JVs and the controller/manager (IGO here) is a big company. Different disclosure applies.

1. IGO has a market cap > $2b.
2. IGO has a duty of continuous disclosure (CD) = all companies do, incl ALY.
3. The main CD rule is that if a co has info that is 'material' then it must disclose that info to the market asap.
4. "Material' essentially means 'price-sensitive'. (M/PS).
5. What is M/PS to ALY may not be M/PS to IGO. However, what is M/PS to IGO must be M/SP to ALY.
6. Before I go on about that, it needs to be understood that IGO runs the show. The only time that it has to tell ALY anything is what happened during a particular quarter (Q) just gone, and it has a month after the end of the Q in question in which to do that. ALY gets told nothing during a Q if IGO doesn't feel like it (but see 8). Therefore, it is likely to be the case that during a Q (and up to a month thereafter) no-one outside IGO will know what is happening/has happened.
7. Therefore, (but see 8) ALY and its shareholders probably won't have any news on the drilling until some time during October.
8. 7 will in fact apply unless either IGO wants to release news or it is forced to by the law of CD and that would happen only if it had drilling news that was likely to be M/SP to its share price (SP); that's right, not ALY's SP, but IGO's SP. Now what is going to affect the SP of a company that has a MC >$2b? The answer here is a good or decent or excellent cu/au massive sulphides hit. That's what is wanted, but ..
9. It is possible though that whilst IGO does not disclose anything during a Q (for reasons stated) it may report after the Q on something that is M/SP to ALY.

So that's the reality according to the law and the Agreement between the 2 companies. If anyone has a query then please ask.

This is the drilling that has taken/is taking place - taken from the 11/8 ann:


Imo, don't expect much from this lot of aircore drilling, but a drill could unexpectedly hit something good. It would be a surprise though.