Australia's largest stock trading and investment forum Australia's #1 stock forum

ENR

5.88%

36.0¢ encounter resources limited

Ann: A$10.5m Placement to Advance West Arunta Exploration, page-3

First 3 Last

Share
Profile

Follow
Itchybeaver

664 Posts.

176

05/04/24

16:29

Post #: 73211110
Share
Originally posted by salpetie: ↑

Partial summary of other thread on CR
~~11.8% new shares of available 15% + possible 10%
~15% discount to last price. Not great but market seems to accept it...so far and staying above 0.22c.
Why? As someone commented the plans for this year will run the coffers dry and who knows what the market and CR situation will be like then. Always a problem for explorers with no income. Not the worst 'surprise' CR I've experienced - Fully funded one day and CR announced the next with SP tumbling off a cliff the next - BLK (5+Moz Au with a lot refractory) ouch and probably others.
GBE @JandJ took a quick look. Grade lower than St Honore, has credits (probably) for Ta and zircon, Malawi, open pittable.
Last assays announced from WA1 on 28/3 so plenty of time for market to go down following that and then rebound yesterday with no announcement.....fun and games by some folks with deep pockets.
High grade on boundary of Luni next to ENR? Still a few assays to come from Luni but haven't seen any really good ones (2%+ from memory only) on the IMMEDIATE (200m) WA1 side close to the boundary reported...yet. Some gaps in drilling up to the border between Luni and ENR [lower priority for WA1 but may be filled in in the future especially if ENR drilling shows encouragement. Isn't in some areas but is in others.].
Best high grade assay to the north of Luni, I am aware of, is on the ENR side at Emily (Hole 98) and IMO likely to extend south onto WA1 ground.
Funds for expanded AC (20Kms - didn't register the number before just that it was planned), RC, DD partly EIS funded, geophysics, mett, general
vs quarter 4 2023 plans
ENR and WA1 have most of the ground along a 100+ Km trend (Agrimin probably has some in the East mostly under Lake Mackay and Tali/Rio possible western extensions. P2 carbonatite shows 30+Kms to the west and open. East of Luni/ENR's carbonatites is open but the structures are complex and what controls exist on carbonatites (or IOCGs or ??) remain to be sorted. Good airborne geophysics will help especially with targeted ground work (gravity, mag, ?seismic or ??).
WA1 have been active at Luni over the last month if sentinel disturbances are any indication. Nothing new obvious with some activity (real or artifact) at existing sites. During this time the lakes have almost doubled in size indicating significant rainfall that has tapered off over the last couple of weeks. Time to repair access and then get out to do some work. GLTAH

Expand

My original statement was, the best intersections in the far north east corner of Luni. HOLE LURC23013 has the best intersections. Is to the northern extremity of Luni....but on our boundary was probably an unintentional misleading comment.
I do think its fair to question whether drilling has been sufficient to close Luni to the North east and subsequently our boundary.
ENR Price at posting: 25.5¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

GYG

Guzman Y Gomez shot up nearly 40% in first hour of trades. Can it last?

Your questions From the Floor: Investment experts respond...

STX

Strike Energy secures $60 million for Perth Basin gas projects

ASX Market Update: Shares fall flat as GYG soars on debut | 20 June, 2024

TM1

Shares up 196% on Terra's news of major reef discovery at Dante