Ann: High-Grade Cu-Zn-Ag-Au Gossans at Tiger - Mangaroon, page-39

While I'm waiting for the really smart geo's to come back with an opinion, suppose I'll give you mine fwiw. Keep in mind I'm a geologist by degree only since well before the GFC, and only then for a brief period of time. As much as I enjoy geological speculation, it's rarely worth more than the bones that economic considerations hang off (geological continuity, mining reality, metallurgy, capex, opex, sector cost curves, commodity outlook etc). I post for entertainment purposes only... please be sure to seek the company's advice before investing .

So given it's all things gold today, went to the Metzkes Find 2023 MRE thinking it would spell out everything I needed to know. No results data (go back and chase that up yourself) but enough to raise my eyebrows... "The Resource estimate for Metzke’s Find was completed independently by Payne Geological Services Pty Ltd (“PayneGeo”)"... I'm thinking independent isn;t the word I'd use for an ex-director and top 10 shareholder, but I'm sure he was conservative if not harsh with his MRE.

See, what I love about DRE is it's always an interesting story. On my way to reviewing Metzke's I get side tracked to see just how many shares independent geo Paul Payne owns? Turns out only 16.5M at 14 Sep 23, down from 47.3M 13 Sep 22 when he resigned... sold out two thirds all the way down in a falling market. I've bagged the board for falling in love with their own projects and believing too much of their own BS, but Paul was a country mile ahead of me! He called the top within a week of all-time highs, which came within a week of Yin drilling being completed but the assay samples not yet finished in the lab...


Not just did he resign with a week of all time highs, unsurprisingly he sold the first 8M shares within his first week out. I'm embarrassed to call myself a DRE bear, I only called it a sell Jan 23 a full 3 months after Paul "DreBear" Payne. To be fair I was late to the party, but hat tip from one bear to another...

Sorry guys, blame it on ADD, distracted from the Metzkes review and ain't going bother now. I'll leave you with a couple of images I worked up (same scale) that tells a thousand words... even the non-geos should get a fair idea of what and where the 15k Oz Au resources came from and what the orebody looks like for mining, strip and grade dilution (all hard rock). Had to add the last drill program onto old long section because results were so sheet Nov 22's release there wasn;t an updated one... I'll make some explanatory posts in more detail another time, GLTAH.