Ann: Phase Two Drilling Program Commences at Samphire, page-7

Yawn.
With however many millions of dollars they have from the recent dilution they can't fit in any exploration drilling?
There are two exploration targets here that will add value to the company.
1. The high grade granitic source below BB
2. The ground south of Blackbush connecting BB and PB.
My preference would be an exploration program used in conjunction with passive seismic to target palaeochannels and altered Hiltaba granite south of BB.
Also, the initial PACE proposal to drill inclined sonic holes with diamond tails to target high grade veins within the granite either was ignored, not appreciated or not noticed. I would not be surprised if it were the latter.
This is the real value of the project and Alligator are still yet to appreciate this.
This project will fail if the U price does not substantially appreciate over time. Higher grade would save it in a low U price environment which is obviously my preference. They have made it clear though that their only interest is to try and develop western BB. IMO this is hugely risky because if the price does not increase then it will never make money (assuming they can't increase the grade-tonnes).