western creek inital jorc, page-24

Think some people misunderstand what an initial JORC is?

Its just closer drilling in areas already drilled out to wider spacings. The JORC isnt the reserves-it is the amount proved up to more stringent requirements, so far, rather than any real indication of the size of the total resource, Its a bit like writing a big essay or a book. First you think what you are goint to put in it and do a layout in point form. Thats the best indication of what is going to be achieved. Then you go through and write it out in full, following the plan. This usually takes longer than the list of points. If its a twenty chapter effort the first chapter isnt the story. The initial JORC is chapter 1. The rest will come in time as drilling is continued. There is a shortage of crews etc, all over and prices are high but they have plenty of cash and are making speed. Dont be fooled by initial JORC in one deposit. This is a big-resource company, with high grades. The real deal. My geophysicist mate told me the good oil years ago at 20 cents. He aint been wrong yet. But then he isnt a big tipster. The pick of the whole bunch, in his view.

The wildcat drills tell the story for the real players, not boring JORC drilling, which is like writing out what you already know, fifty times over. Oh sellers, ta! Im topping up a few more.

Plenty of you know this already of course and better, just a word for the newer punters among us.