Ann: Share Purchase Plan, page-53

They already have a 12m hole at 60%. That is the right stuff. I think the chances of finding a lot more of the right stuff is better than most projects. They have also found multiple outcrops across many ridges. All this is along strike. They have ordered up 4 rigs. That suggests there is more than enough evidence to warrant 4 rigs since his site visit. If they were in doubt, then you would only use 1 rig until you had confirmation. Looks like they will drill more than one target at a time and then concentrate the rigs if they hit something really serious. There is a play book to bulk commodity drilling and they know it very well. This is not rocket science. Its a drill out once they establish the grade. In the mean time, they complete some Met testing work and confirm the ores properties. I assume its similar to next door. I think this is likely to be multiple pits. A 50m ton target is their target. 40km of known strike should produce more than enough FE imo. Worth remembering that the geo's and people involved are not new at this. Iron ore is a lot easier than many commodities. The fact that AMD has outcropping high grade across kms of strike is a wake up call. The general market sentiment is very negative. They may need some early results to shake people awake. If AMD start to see thick intersections of high grade, the stock should do really well. The risk is always going to be the usual stuff. dyor