BDM would have known very well which areas to target and which areas had greater geological certainty.... But they failed to obtain the necessary ML's in the more prospective E9 lights stockpiles E9 East/West Alluvials and E12 alluvials.
From GIB report 11th April 23
GIB considers the Ellendale 9 Prospect area to have greater geological certainty than the Blina Alluvial Prospect, and so the Company will concentrate its focus on getting the E9 Prospect area assessed and permitted for mining, in priority to Blina at this time.
GIB believes that to properly test the Company’s ‘High-Grade Trap Site’ geological model at Blina would require approximately 100 sample sites to be bulk tested on the 7km long mining lease M04/467. This testing would enable to Company to properly ascertain the area’s prospectivity for high grade, diamond bearing material within trap-sites. The Blina Prospect area remains fully permitted and ‘shovel ready’ to commence these bulk-sampling operations. FYI Burgundy only tested 2 sample sites digging enormous trenches....
So based on the fact that Burgundy failed to obtain ML's at the above mentioned more prospective sites and only testing 2 out of at least 100 sample sites at Blina they were going to have a difficult time in achieving there goals...
You also menti0n why the name changes?? must be something sinister going on lol, when a company acquires new assets it is fairly common to have name changes to reflect what they consider their new direction....
Nice try in trying to smear GIB
BDM Price at posting:
25.5¢ Sentiment: None Disclosure: Not Held
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