fwiw.... in my opinion the AOU announcement is a typical attempt, by a company, to drum up interest in itself by riding on the coattails of another company's efforts [i.e. the AIS/ARE JV]. The reason the AOU ann' was attached to AIS and ARE [by the ASX] is because both companies were mentioned and highlighted.
The Gawler Craton is highly prospective in general. But the fact is, at the moment there are only 2 active drill programs underway.... BHP reported they intend to spend $70M in the area this year... and the AIS/ARE JV has begun its $15M program as of January. The AIS/ARE program is fully funded to drill up to 30 holes over a 2 to 3 year period [and is permitted to drill 70 holes in total]. This year about $5M will be spent on the first 8 to 10 exploratory holes.
If any of the holes drilled find something significant then the nearology plays will be chirping up and trying to raise the money for their own exploration efforts. They will then face exactly the same risks and their success will depend entirely on the actual quality of their ground.
AIS Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
