".....underground drilling was overall unsuccessful in extending the Resource on the Southern Limb with the mineralisation intersected not being of economic grade to be incorporated in the Resource"
Not really what we wanted to hear. IMO, whilst Kavanagh is not the main resource, it was meant to be the best short term option for getting the company back into production.
Disappointing drill results at Kavanagh, coupled with the fact that the price of gold needs to be higher for production to be sustainable leads me to believe that the share price will be trading below 2c in the near future unfortunately.
TAM Price at posting:
2.0¢ Sentiment: None Disclosure: Held
