Just been having a look at the drill results supplied with the last announcement and the proximate lab results IMO look great! The only hole that showed high sulphur content was P1-1, which is located in the north right corner. The rest of the results from P1-2 - P1-12 all have low sulphur content, low ash and good calorific values (however doesnt look like these have been used in this exploration target)
Lab results are still pending for holes P2-1, P2-2 and P2-3, but at a guess their values, as they are on similar horizons, will be very similar to P1-1, P1-2 and P1-3 with lower quality results appearing in P2-1. But we we see these results shortly!
According to the announcement the exploration target of 2-2.4bt is for the 6 holes in the north of the Takatokwane South area.
"The exploration target of 2 to 2.5BT is calculated from phase 1 drilling using the analysis of the coal horizon thickness and yield estimations of the best developed coal section. Based on the results from drilling, 6 holes in the north eastern portion of PL 159/2009 (P1-1; P1-2; P1-3; P2-1; P2-2 and P2-3) were used and in this section seam 2 is consistently encountered."
There still a lot of area to cover - but these guys are definitely heading in the right direction - and I am strapped in for the ride!
IMO with Scoping study around the corner and Trans Kal rail on the way, there is only one direction this SP is going.................and thats sideways, then down, then a little to the right and then straight up north!!!! Actually I'm not particularly interested in its short term movements ; P
I do think however for LT holders, they will be rewarded handsomely!
All in my opinion.
GLTAH
PB
NMR Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
