I must say that I was a bit disappointed in this week's benefication results.It essentially only confirmed what we already knew when the first results were released back in January. Why did it take so long for these results to be released? My main concern now lies with delays in the next round of drilling. According to the June quarterly the company had identified DSO targets using interpretation of the airborne magnetic flown during 2010 over tenement EL52/1927. These targets include potential continuations of the outcropping Brockman and Marra Mamba iron formations under the recent sediment flood plain. A 5,000-7,500m drilling program was planned to start in the September quarter yet there has been no announcements from the company that drilling has commenced and there is only 7 weeks left of this quarter. I sincerely trust that we are not going to have the same sort of delays that resulted with our benefication results.
This drilling could be potentially a game changer as I recall drilling back in 2009 on other sections of the Marra Mamba iron deposits in EL52/1927 returned up to 98 metres of DSO grade ore with an average 80 metre depth over those test holes drilled.
Come on Dynasty what's the delay?
DMA Price at posting:
21.0¢ Sentiment: None Disclosure: Held
