Ann: WAF hits extensive visible gold in 1km hole at M1 South, page-46

The sense in drilling the deep hole is that it gives visibility to the mine plan, ie it looks like the chances of filling the back end of that plan with high grade gold could now stretch out to 7.5 years, ie we are likely to be a truly bona fide 150 to 200koz producer with a 7.5 year mine life at minimum.

The deep hole also seems to prove that the M1 deposit remains robust at depth so the likelihood is that the mine life can be extended for years beyond the present expectations. Currently the mine life is already 11 years based on mining M5 and other pits. It’s obvious to me that the chances of M1 going deeper are very high so it doesn’t take much imagination to see the back end of the mine plan filled with high grade gold out to 11 years with total of about 150kozs of production.

The market might be asleep when it comes to WAF but I’d say the people that count in the business will be looking at the results of the deep hole with interest.

Assay results are being expedited and are due this month. I suppose if they are very good they could become a potential catalyst for a TO offer (I hope not).

I wonder if they are planning any wedge holes off the deep hole? Esh