@Deadfred ...
You do realise that each of the larger volume days in the last week or so, has been where SGQ has closed on the low of the day, which tends to indicate an increase in selling.
So now the star of the group, the Cathedrals has degenerated into a scatter gun approach of drilling RC holes. What does a scatter gun approach after 5.5 years of targeted drilling tell shareholders, or should tell shareholders? They are still flying in the dark, the deposit has not turned out as they hoped, and now are trying the wing and a prayer stuff..
It will be months before they have assay results, and considering they never released last years 'resource drilling' results (tends to be a big red flag they were poor), why expect this years resource drilling results to be released or any better?
Notice on the cross section on page 5, all the grey lines down into the ground with nothing in them. They were all the duds, and are clearly between the small pods of higher grade stuff. There is no continuity of mineralisation here at all, which is the big problem.
The company was doing, a scoping study, but now no mention of it, I wonder if this bit hidden away on pg 12 of yesterday's announcement is the culprit ......
"The completed drilling at the Project
is not sufficient to establish the degree of geological and grade continuity to support the definition of Mineral Resource and Reserves and the classifications applied under the 2012 JORC code. (tends to also mean last years resource drilling was a bust!!)
There will be no mining on what they 'have' so far as it is not enough to declare a resource!!
(20min delay)