second hole to be completed by weeks end, page-11

Smuggler

They are not my "views", they are the facts.

As I said in my post, they are CURRENTLY only drilling around 25m per day for hole two given the DEPTH. Obviously you would expect a greater drilling rate when they are drilling closer to the surface. Takes a lot longer to retrieve the drill rods and core as you get deeper in the hole, and they would be drilling anywhere from 800m to 1,000m in depth in this hole. Harder rock in the target zone would also slow the drilling rate down.

I haven't even bothered trying to work out the average daily rates and when they should have reached what depth. This is one for the too hard basket given the number of drilling delays that have to be factored in.

The key bit of info is that they are drilling through the target zone and expect to complete the hole by the end of the week.

With respect to announcing the delays, I don't see that they are obliged to under the listing rules (its only a week or so delay and does not effect the project's potential), nor would they be bothered about appeasing the interests of impatient traders jumping in and out of the stock.

Today's fall in the share price, even only on small volume, is suprising given how close we are to news, but again highlights the impatience of some. Hope they don't regret it!