Time to buy in, page-30

Hey Mirren,
I ve been holding and accumulating this since 2011 based on management and landholdings intially and then as time went on based on their Calibre deposit and my perception of its unrealised possible value. Plus other shareholders such as the creasy brothers joining up has been reassuring. Basically in a nutshell as far as I remember their intial drilling showed over 350-400 m of mineralisation hits with gold equivalence of about 1-1.5g/t. This caused the original sp spike to above 20c. About a 600m x 400 x 800 m footprint intiially. Borderline and questionable ecomomics in the markets eyes at the time but I know the directors expressed at past AGMs their belief that even then based on its size and low strip ratio they had a very good deposit on their hands. Unfortunately subsequent drilling failed to improve grades but did extend the size of the deposit. See past broker reports - anywhere from 3- 30 million ounces of gold equivalent material estimated by brokers as I recall. This coincided with a really tough market for gold juniors and a lack of funding for further drilling so they placed calibre on care and maintenance whilst they did further analysis, cut their salaries, had to let some people go and began discussion with the majors and tried to jv it out. They reanalysied the geology and structural controls and managed to raise some funds early in 2015 at 0.4 c to test their hypothesis and were successful in proving up their theory , striking significant higher grades at calibre north and extending the strike length even further to about 1.5km in strike length. At this point with an improving market Rio stepped in and the rest hopefully will be history. Make no mistake Calibre has millions and millions of ounces of gold - the market just needs to be shown its economic which I am investing/betting it eventually will. Plenty of large open pit mines operating at 1g grades(look at how much cowal recently sold for) but i think we will have higher than that when it comes to mine. Whilst all this was going on Newcrest decided to withdraw from Telfer and reliquished Minyari. Management were good enough to pick it up for free and subsequently released the previous drilling results which shows what a cracker it hopefully is. Newcrest subsequently reversed their decision to withdraw from Telfer but we had Minyari by then. Which leaves us where we are now. With over 3 million in the bank, a JV with Rio and exciting times to come