Ann: Kitotolo-Katamba Lithium Project Update, page-12

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mr_delta

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28/11/18

14:00

Post #: 36670615
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Originally posted by Big Kahuna 101 ↑

Originally posted by mr_delta
a lot of liberty taking to describe this drilling as "rapidly target near surface Li mineralisation" in Phase 1...

got to be the slowest grind I have ever seen in a while... anyone remembers when the drill dates were announced and when it actually got drilled and when to expect assay results????

been a bloody long time for sure :-(
Below is a rough time frame, apart from taking a ridiculous amount of time the communication by the company has been atrocious during this period as well.

March
27 March 2018 - First Drilling Contract signed and Rigs to be Mobilized 'immediately'
April
3 April 2018 - Kitotolo Drilling Contract signed - Drilling Anticipated to be completed by 'second half of September 2018 Quarter'
May
23 May 2018 - Drill Rigs still not Mobilized...
June
Nothing....
July
4 July 2018 - Drilling commenced with drilling expected to complete late-July/early August for Kanuka
August
21 August 2018 - Half of Drilling completed - Drilling expected to complete in 3 weeks (12 Sept?) - Samples from 21 Drill holes dispatched and first Assays expected in 3-4 Weeks (19 Sept?)
September
Nothing....
October
17 October 2018 - Drilling Completed, still no results, no new time frame given
November
???

Cash has dropped from $3.5 mil to under $1 mil... we dont have any results to show for it and the drilling program first announced to be completed in the second half of the Sept Quarter 2018 is now not looking to be completed until June 2019 (at the earliest)... and they still have the nerve to call it a rapid or accelerated program,

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thanks for the detailed reply... when you look at the dates, it does feel like a long long time...

the least that they can do now is to HURRY up and deliver on the pending tasks... so far, the market has priced in failure for now... let's see what is in store ...

4CE Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
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Ann: Kitotolo-Katamba Lithium Project Update, page-12

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