1. AAND-44 shows an increase in grade with depth over the hole immediately above. 0.65% to 1.4%. Open at depth. Excellent cross-section. AAND-49 similarly jumps from 1.28% to 4% with depth and thickens as well. That has to be good surely?
AAND-44 assay was a result key to modelling JORC and as it has turned in a very good result, it will aid the cause greatly. Expect the Jorc will be qualified with the "open at depth" statement. Good.
2. Looks like Antas North JORC released first to give the SP a double boost.
As drilling has ceased at Antas South, and no further drilling is planned here in the immediate future, then the data-set surely must be complete for purposes of JORC. This should also be being worked on to produce a JORC.. no reason to just sit on it.
As any move to mine DSO, or at least make a general start on it, depends on this Antas South deposit (and modelling) especially, then I would have thought it was a priority over AN. Obviously not. Anyway will be nice to get an early JORC on AN to help the SP along.
3. Note AAND-48 and 46 have azimuth 360 deg so are designed to go right through the heart of the EM anomaly. 46 result seems ordinary. However a real geo (as compared to total amateur) may disagree and point out that the 2.6m at 3.6% plus 0.33gm Au indicates the solid stuff is there but needs more pin-pointing.
Follow up AAND-48 is at lab. Depth 239m Their only comment on it is continuation of mineralisation at depth... so... no high grade, long hits on it apparently? or are they just being coy? Hard to tell from pic. but looks much better than 46. We shall see.
4. Wasn't there HC talk about a super-long hole being drilled. I see no sign of it. No big deal though.
5. If 47 was meant to test the second anomaly, 0.81% is not special. No follow up drill planned or rather, observed on map.
6. What/when is the Announcement re New Project, or rather some significant development. Surely it must be due now. It is not unusual for AVB to make successive announcements. So it would not surprise if there was a follow-on announcement very quickly... this week even? That is the Wild Card at present I think.
7. As always, the prospect of Vale doing an early buy-out on mutually favourable terms is always a possibility... but is anyone's guess re timing.
8. Looking at 49, 50 pics they look very good and as they straddle 44 it could add nicely to the jorc in that area. Provided they parallel 44 and also go deep.
9. The Placement was at 10c a year ago. The SP is now at 11c
10. I thought there was a vital hole stepped out from AS towards AN being drilled a while ago.? Maybe not. Anyway must research it.
Just some observations.
Good consolidating progress results overall in this announcement.
More holes drilled, the better the definition of the ore body, and it all takes time.. especially in the wet.
The ore WILL be mined. So the reality is that in parallel with doing nice calculations of jorc etc, the real staff work to actually plan and procure for mining should be proceeding apace. The lead times on procurement of equipment, writing and allocating contracts hold back progress. These guys are pro's and hardly need a "study" to tell them (surprise surprise) that an ore body is economic or not. And they certainly have the staff there to work on it now.
If starting to even think about mining is dependant on Vale's final large payment in 18months, then one can draw conclusions about the company and its future from that.
However, on the other hand, if a deal can be struck with Vale now, when AVB needs it, and management can demonstrate that it is dynamic and determined to mine.... then a solid re-rate of the SP could be on the cards.
I am hoping that there is a stunning announcement just about to hit. One that launches AVB forward like a rocket at Cape Canaveral. Come on Woody and Tony... surely something is brewing?!!
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