@mulac1 ... You are correct one shift per day.
On March 1 they were at 115.5 metres deep, on March 8 announcement they were at 315.4 metres deep, so 200 metres in 7 days, a rate of ~28.5 metres/d.
They only had 15 metres to go to target at 340 metres and with single crew were drilling ~28 metres per day. Today is the 3rd day's drilling since then, with no trading halt etc.. They should have hit that target on Monday and been well into it by the end of Monday.
In regard to resource drilling.
As per the announcement on the 27th Jan, the wording is as follows, nothing about Mid March at all
. Did you just add the Mid March bit? For what purpose??..
"
The precise availability of the RC rig has yet to be confirmed by our drilling contractor, but we expect the rig to be available by March."
However that read to me as if it was an extra rig for the drilling of other follow up targets. The full context is the following .....
"
Further RC drilling will also be planned to follow-up targets generated from the regional exploration mentioned above.The precise availability of the RC rig has yet to be confirmed by our drilling contractor, but we expect the rig to be available by March."
There is no mention of the resource drilling being delayed in the quarterly, nor in any of the subsequent announcements.
In fact the very way that the delay in resource drilling has been announced is a perfect example of what I've been saying in regard to how they keep selling the sizzle but hide bad/poor news. The resource drilling starting in February makes pg 1 in the announcement of progress in December, but gets hidden on pg 9 in January when it isn't happening on time, then not even mentioned in the quarterly.
We are now past early March, but no word about the resource drilling that was originally meant to start in February, then expected by March. Perhaps we should ask for clarity about which year??
No, St George are not alone in this type of behaviour, it is rife across the junior exploration sector. Clearly explaining how this delays the MRE further would seem to be appropriate, but that will also probably get hidden away in some positive announcement when they have some nice pics of more Ni/Cu sulphides to show.
(20min delay)