I was a bit perplexed that Brett chose not to respond to my query to provide a date in Jan when the drill rigs would be on site so have searched all of FWL's announcements and cannot find where they announced that drilling would commence in Jan 2012. I did find in the latest quarterly the following statement;
"The company has also received approvals from the Dept of Mines for a 65 hole in-fill drilling program at Sam and a 26 hole resource drilling program at Tweaty. These approvals and two others currently under consideration have been prepared to provide the quickest possible ramp up once the first stage of the Taifeng deal is ready to proceed".
Have we just been assuming that drilling would commence in Jan or have they actually stated this? I note in the jv timetable that DSO exploration is to commence in qtr 2 2012 which would be presumeably managed by the new Taifeng Operations Manager.
LCG Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held