All this suggests me that the Competent Person was nowhere near as Competent as he made out he was when he put his name to the original announcement.
"Mr Jewson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a competent person"
This seems to me to be incorrect, since the announcement didn't differentiate between pentlandite, pyrite, chalcopyrite, etc. The guy couldn't sign off as to what sulphides he was looking at, so he can hardly class himself as a nickel CP if he can't identify nickel sulphides.
Also I query Table 1 in the original announcement which states under "Logging" - "Logging has been conducted both qualitatively and quantitatively with full descriptions of lithologies, alteration and mineralisation".
Logging "sulphides" hardly counts as a full description of mineralisation.
And no, a trace of chalcopyrite 500 metres down isn't going to get too many people excited.
All in all its pretty shonky, and shareholders deserve a better explanation. Expect bloodbath for BOA shares tomorrow.
BOA Price at posting:
27.5¢ Sentiment: None Disclosure: Not Held
