... actually I think I was so excited I messed up the drill figure.
It is 2,100m so far 2013, not 1,200m ! interchanged the 1 and 2.
2100m in 6 weeks, including festivities, NYear, weather. 2100m x 8 = 16,800m for a year. Amazing.
That is really full on drilling. !
It implies a drill rate near equalling anything they have achieved at any time in the past, which was at an annual rate of 21,000m/annum one year
This is achieved with mobilising drills to new and unfamiliar locations and wet weather.
When you keep adding to your tenements, there is an obligation to ramp up and distribute exploration in conjunction.
Not sure exactly what they mean by "reviewing drill rig numbers as conditions improve". Perhaps can reduce numbers of rigs and still maintain meterage as things improve. If you pay by the metre, and two rigs can then do the work of three, can take one rig and use it elsewhere hopefully, rather than actually sending them away.
Such full-on drilling almost suggests that Vale cash may be close. I was expecting this on-going expense to be wound back, rather than ramped up!!! Save cash. The opposite has happened to what I was expecting.!!?? Odd. Just a thought.
AVB Price at posting:
7.6¢ Sentiment: LT Buy Disclosure: Held
