Ann: QUICKSILVER EM HIGHLIGHTS SULPHIDE ANOMALIES, page-67

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whitepointer

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01/03/18

09:35

Post #: 31438945
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Originally posted by fmx_rider ↑

I disagree on a cap raise soon.

With almost $3m in the bank, and RC being used (heaps cheaper than diamond), and re-reading their announcement, I think they will complete the next phase of drilling covering areas A,B and C outlined in the announcement which should test anomalies 2 (existing shallow drilled area), 1 and 3.

From there, hopefully with success and higher SP, I see the cap raising happening prior to the 'extended program' mentioned in the last announcement.

In terms of the anomalies, 1, 3 and 4 all have the potential to host massive primary sulphides. Anomaly 1 is the highest conductance and shallowest which makes it the best target. Clearly Anomaly 1 was the reason why the EM survey was extended north. I note the conductance is higher that SGQ's Windsor anomalies, and BOA's Symons Hill anomalies.

Not sure what other people think, but I am wondering if each of these main anomalies (1, 3, 4) are a channel zone (where sulphides accumulate) in the Komatiite flow, which has now been turned upright (90 degrees to formation). This opens the discrete anomalies up to being extended at depth. In this geometry the depth extension would be more difficult to pickup and model in the EM survey as it would be masked by the top of the anomaly. Anomaly 2 would then just be the area between (higher than) the main channels but still lower than the total Komatiite flow, resulting in disseminated sulphide accumulation.

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I think you are probably right in respect to the timing of a capital raising.

As a side hopefully if one is to occur and considering the current market cap the raising is done completely through existing shareholders and rights backed.

G88 Price at posting: 72.0¢ Sentiment: Buy Disclosure: Held
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Ann: QUICKSILVER EM HIGHLIGHTS SULPHIDE ANOMALIES, page-67

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