Agree, quite frustrating.
I had a response from Barry a week ago. And I won't bother him now, was before
@DDBB comment on what Barry said but the response came after.
with regards to the PFS he wondered why I called it a PFS (we are all guilty of it through assumption) given it is a restart study of an existing resource.
He expressed it is in fact a
BFS/restart study.
My thinking was always this would be in line with a DFS in terms of detail. But BFS is even better and everything that goes into it needs to be rock solid. This puts us well ahead of other junior copper plays.
Drill results will be in bunches unless significant. So don't expect to see results for every hole. He would rather have people drill holes then spend time writing 15 page reports like larger companies.
For me it is a bit unclear what represents a significant hole that needs to be announced to market. For the Nifty deposit it could be over 2% copper or it could be intercepts over 3%-4% who knows. 1.5% copper hits I think will not be subject to being classed as significant given the average grade for Nifty is good so I'll leave it at that. I speculate from this that assays have been received for a number of holes so far.
The BFS is due for "internal" completion at the end of September. So we are pretty still very well on track. As suspected with me previously saying it is likely to be October. Others have noted a small delay also.
keyword being internal. I believe this means from the end of September, being a BFS, it will be externally reviewed. This is to make sure there is no discrepancies. Standard procedure and I suspect wouldn't take too long.
The Geology Superintendent role I mentioned earlier has not been filled. However they have in the last couple months employed Geology manager for the highest geological role and are looking to fill slots from the top down.
imo, since taking Nifty over they have struggled to communicate as they are doing everything minimallistically or so it seems. The guys doing the very technical stuff, he wants them to focus on what they are doing rather than gathering information for fluff announcements. Same as the drilling. The last thing we want to see is all these experts hired and paid the big bucks and still be where we are but with a couple of announcements..
barry mentioned that Covid hasn't hampered the ability to get staff. But there are general shortages in WA.
All is good just need to be patient now. Announcements will come in time. I know the PA is disturbing given the trajectory this company has planned.
hope this helps some holders. Hang in there, hold tight.
(20min delay)