re: Ann: Infill Drilling yields more Excellen... Again excellent drilling results. Hopefully this will snuff out the traders who have been keeping the share price in the 7 to 8 cent band.
Each of the recent drill results have been adding to the confidence of the Kundip deposits but they also produce exciting new targets. Of particular significance in todays announcement is the Harbour View North Prospect. Drill Hole KP778 intersected 3 metres at shallow depth (93 - 96m) 29.2g/t Au and 1.1% Cu. As well as the prospect of some immediate resource extensions (drilling to start as soon as possible) it has in my mind implications for the Harbour View and Kaolin/Hillsborough pits. Although my knowledge is limited it seems fairly obvious to me that we are looking at the possibility of one progressively bigger single open pit. The economy of scale that this would introduce can only be positive.
The Propectivity of Kundip is just looking better all the time - Try Again, Flag West/Maybee, Kaolin East etc. Also we have the extensions to Gem Restored to be elucidated as they converge on Kaolin/Kaolin East and the Harbour View extensions.
Once again the action on the ASX after the flurry of opening trades is very interesting. I will let people make their own conclusions! The 10.18am trade (100,000 @ 7c only 9 minutes after opening trades of 600,000 odd had pushed the price up to 7.3c) has again put a lid on the excitement of the new announcement. Who in their right mind would put in a sell 100,000 at 7c when there was plenty of early action at 7.3c. It has worked because the buyers have dried up. So it will take the real market (call them sophisticated mining stock investors and advisors and TTR accumulators) a little time today to digest the announcement and recognise the compounding and compelling story of Kundip.
Also in todays announcement I note completion of the Railway drilling with assay results pending
Toll milling of stockpiled Kundip ore from past mining has commenced....nice bit of cash flow.
Exploration drilling at Kaolin East and Harbour View/Maybee/Flag West is on going.
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