Exploration During the reporting period Octagonal received a $70,000 West Australian Government co-funded drilling grant to help fund the next phase of diamond drilling at the Burns copper-gold Prospect, a 53 hole infill aircore drilling program was planned at the Quimby gold Prospect, and two heritage survey requests were submitted to the Goldfields Land & Sea Council to complete infill aircore drilling at the Quimby Prospect and regional low impact exploration activities at the Lisa’s Dune and Yalca Hill nickel-sulphide prospects.
Sept Qtr = No exploration work .....
I agree the plan to privatize was likely decided long ago ....all I ask for is a fair "takeover offer" not this shady deal we are been forced into...
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Also looked over the AYC Qtr report good to see them finally ramp up production in the month of october (some 458oz produced )but last Qtr was very average only 415oz produced ...leaving Cash very tight
Also the PR is plan Woeful nil "forward plan" .... here's hoping the ramp up in production will continue and we will see much higher per month Gold production ...plan was north of 2000oz per month and we are miles from that >>>
And as AYC doesn't exactly have a large Reserve base(couple years 60k totalreserves etc) they really need to get that Gold out asap so they can fund major exploration to grow a decent reserve base ,,,,,
IMHO if someone wants another 1.4mill ORS I'd be happy to let them go for 1.8c ..as my confidence is heading south pretty quick here...
ORS Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
