I think a lot of people here are using the B Sands as the benchmark. The drilling reports of both GGW-1 and RG-1 were of such detail that I think we got spoilt. I bet not many other companies go to so much trouble. Ken does it his way and like many others.
I am here for the Lockyer drill like most of us, but there has got to be some patience. This drill is going to require more than one hole before you can commercialize the field (AWE took the Senecio and Waitsia drills to get to that point). The Black Swan interpretation is the starting point (I wouldn't farm in before I had access to it.). It is possible that EGO and NWE might attempt this off their own bat if no farmee can be found within a reasonable time frame (although NWE look a bit shaky for funds). I say this because if the first drill shows up what we all hope for, then it will be a lot easier in these difficult times to attract a partner.
The Red Gully North , in my opinion, was the correct next cab off the rank (drill ready status priority) with a 50% COS. Not big numbers, but the aggregation should put us in a better position to go to Lockyer solo if required.
EGO Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
