Weather has caused delays, as per everything in that region.
Xstrata to drill mid April, he stated that Xstrata are "anxious" to get under way. Pantheon to drill this coming quarter.
Pantheon will update the market on the 31 March.
Our quarterly is out beginning of April, Hugh stated on some positive developments on 3D results for Toondulya EL in the Central Gawler, "a significant gravity feature has delineated some quality canstrained targets requiring drilling", couldn't comment any more... Exciting though...
Hugh is confident the June quarter could see 3 drilling programs which is "reasonably expected to impact Argo's share price".
They only have 82 million shares on issue, they have an excellent tenement (LOOK AT THE IHAD holes), Xstrata are in for $16 million of drilling, 7% (~$2.5 mill value) share holding in Pantheon who are about to drill (next to the big boys).
I value them at 16c at this stage on that basis, up side potential in the next 6mths 40-50c.
Next 4-6 weeks are going to get interesting and we could see a rocket ship once drilling commences.
:)
AXT Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
