@justreadingI don't want to sound like a smart A but I think of how deg are doing at Hemi.
Large step out drilling that gives an indicated res until you find the extent of the footprint.
Some dd to test the grade at depth, ( hopefully increases with depth ).
That is the least expensive method to test the size of the resource.
Raising the confidence can be done after and it will be a very inexpensive exercise when they know exactly were to drill.
The chart- this was one I did a few weeks ago where I interpreted that flag.
It broke out but I kept the flag to see what would then develop.
After BO of the flag as you can see, it has re entered.
That last red candle suggest some more weekness today.
5.8? maybe a very short and sharp visit but I will bet my A that it will be snapped at that price.
Keep an eye on it to possibly touch that green line, 50dma instead of the horizontal blue line at 6 or low 6's.
Also if that happens it will bounce very quickly imho.
Watch out for the worms to turn upward and strength to return very quickly on the upside with it, that is highly likely.
I can't help but to compare this to Hemi.
The difference here as I have said before but will repeat it again for anyone that hasn't seen that post.
From surface, Saprolite so no drill and blast, High grade, large footprint with enormous growth potential.
I think it was
@mineralised that said the nearby artisanal mining is visible for 9km?
This is primary and in very old decomposing geology and soft.
We are yet to see the bottom and the extent of the length and width.
The only negative being the possible sovereign risk so we assign a risk discount, say 40%.
I have to rate this as one of the highest potential growth stories.
Let's wait and see if that deposit keeps growing but my money is already on the table and ain't going anywhere fast.
Oh unless of course the sp drops, then I will add very quickly.
I also have to draw attention to
@Green Bull as he has been on this for a long time and also someone I follow.
I just didn't take it up until those auger hits of late that sent the sp up 900%
For anyone not following him, I highly recommend you do.
One more thing to keep in mind, the discovery costs.
You don't get cheaper than auger in saprolite especially when you are onto something.
The dd will most probably sink into depth fast and also won't be expensive.
Just hope that all cores are recovered and let's hope for some vg.
Kind regards, Wack.
(20min delay)