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ddzx

28,706 Posts.

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29/11/14

21:33

Post #: 14378870
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Originally posted by milesy ↑

Riskon, I like the LEG story leading into drilling. Plenty of money and plenty of targets.

But remember, we have had little in the way of any material discoveries since the great SIR.

Many other companies have had 'encouraging' results requiring follow up, but none have hit the jackpot again, including Sirius.

And they have spent many millions of dollars and have had a great deal of expertise and data helping their case.

I guess I am just trying to say that these types of Ni Cu sulphide deposits are incredibly rare for a reason, and LEG need to carefully consider how much they spend of their $20 mill on chasing this dream compared to, say, a merger and/or acquisition into a more brown fields project.

There are some bargain projects starting to go at highly depressed prices.

Milesy

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the former northern part of the LEG ground relinquished by Mark Creasy in 2013

there's gold in those hills (but no nickel it seems)

Final Surrender Report
Ponton Project
E28/1622
For the period: 16th January 2007 to 23rd May 2013
By: J. Sharp

Summary
Tenement E28/1622 is situated approximately 290 km east- northeast of Kalgoorlie.

In the current reporting year, an AC drilling program was undertaken across the tenement, targeting anomalous areas identified in previous reporting years. A total of 80 holes were drilled, however, the maximum gold value recorded was only 12ppb.

As results from surface sampling and drilling work have failed to identify anomalism deemed worthy of more advanced work and thus the tenements are to be fully surrendered.

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LEG Price at posting: 0.9¢ Sentiment: None Disclosure: Held
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Cash is King, page-6

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