depth, page-18

Hi Cusox

No it’s not a credibility matter, I just didn’t take in a reference point of the date, that’s all.

Rob said they had circa $5 Mill in the bank, and as some have said that may not be the case, and probably isn’t today.

The only cash inflow likely is interest, maybe a government grant to drill however what is valued as mentioned by Bob Vassie when St Barb invested, is that funds go into the ground in a prudent manner, and as Rob said today 160klms of drilling has been completed.
JOGMEC has spent $15 million on Wirlong and
at some point the future of same will need to be decided.
Mallee Bull is still being drilled to improve the dig & truck near surface income feasibility and that plan is maintained to get to the copper prize where drilling once miners are at greater depth will add to the tonnages.
Hampton Hill & their Associates now have 19.6% and the top 20 have 70% of all shares so the day traders are the ones pushing the sp down and up significantly with a relatively small number of trades.
Those hoping in and out trying to be clever buying flavour of the month shares will probably rue the day if they’ve sold because we have such a good polymetalic group of projects.
Such widespread high grade Cu Pb Zn Ag Au is remarkable, and we have 4,000m2 of similar land holdings the largest in the region.
These are a good reminder of the quality and quantity which is so appealing, and as Xavier from Patersons suggested Japanese base metal demand is strong.
Rob pointed out that local milling operations are either running out of feed in coming years and there’s better utilisation of mothballed facilities if they utilise our ores at some point.
I asked if any drilling has been done in the middle of the magic circle, and no not yet, and Rob explained the cauldron like hydrothermal system has crept through cracking in rocks as per the circle, and there’s many local parts to explore with lots to do. That said he wants to reduce the gaps in drill spacing between Wagga and Southern Nights so we may have potentially a big open pit scenario.
I suggest you call him to learn some more or attend the next forum in the Sunshine Coast where you guys mostly hang out.
All very interesting and positive stuff today.
Sarg