On 2o Nov ICG said "Results from drill holes RDDH-019, RDDH-020 and RDDH-021 expected within 7-10 days", i.e. 27-30 Nov.
Visuals of the drill cores may well have given some reliable indicators,and if so, and the indicators were positive, then issuing results before the closing date would be positive for the offer, with the opposite true if indicators were negative.
Now that the closing date has been extended from 28 Nov to 5 Dec it is a lot more certain that ICG will have received the results and be able to issue them before the offer closes. So from this point of view, the delay seems positive to me.
Any geos or drillers out there who can comment on drill core visuals?
I'd expect visual reading of drill cores from a site to improve as the drilling programme progresses, but I've never done it myself.
Ann: Extension to Inca Rights Issue Offer Period, page-4
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