What's next?, page-15

I'm extremely bullish on copper & gold over next 3-5 years and like copper/gold plays. AL8 ticks all the boxes for me with a great team, located in Tier 1 jurisdiction, great results to date, not too many SOI with sound register and most importantly going after massive targets.

They are going after Carlin style gold deposits which are huge (great examples in Nevada). Peter Williams has already stated they will make a discovery and he has a record of 3-4moz gold discoveries. Still early dates days but drilling so far have confirmed what they were expecting to see which raises my confidence levels. These type of discoveries takes time, but will reward massively when confirmed.

Then there is the JV with Rio at Frisco. For me that is almost a certainty, but will take time as well. First hole that Rio drilled pretty much showed you all you needed: 73.96m at 1.1% Cu, 0.35 g/t Au, 4.5 g/t Ag and US$30m pays for a lot of drilling. Some have been unhappy with speed of Rio's progress, but they reached first commitment target of US$1m 6 months ahead of schedule and looks like that will continue with them already expanding the drill program with additional 23 drill pads and surveying for 33 proposed new drill sites.

So no guarantees with exploration but for me this one has an above average chance of success and is very cheap when compared to prize that's on offer. Not a major consideration for investing, but good to know that someone like Tolga owns 20% of the company and I'm sure he's got access to much better resources than us to do his DD.