Ann: Investor Presentation - September 2016-BGS.AX, page-66

First 66 Last

Share
Profile

Follow
Scouse

6,881 Posts.

1

13/09/16

13:05

Post #: 19120079
Share

Originally posted by Ubique13 ↑

I wish they would just keep the RC and DD rig going out there until they can prove up a reserve of 40Mt, revising the JORC say, every quarter.

We need development of Goulamina to be fast tracked and it would be annoying if the development was halted due to waiting for additional drilling to be completed.

We know that the deposit is open along strike in both directions and at depth, in both zones, with clear additional targets to drill in the immediate area, so why not continue drilling right now with RC at least.

Wouldn't it be more cost effective for the rigs to only have to mobilise to site once, and a larger discount could be provided by the contractor for the larger volume of drilling required.

The first campaign will cost a total of ~650k AUD, maybe less due to operating in Mali. With another $8M AUD in the kitty with another ~4M on the way from options being exercised, we aren't restricted financially to not continue drilling.

Also plunge some deep DD's down to see if the Main, West and any other currently undiscovered zones link up at depth for some ~200m hits like the Mt Marion (NMT) deposit but at >2% Li2O.

To be clear, the company is testing the extensions listed above particularly for the West Zone I believe, with DD as we speak, hence the delay in JORC announcement which is excellent of them, but I think they should keep the drills turning until the monster is uncovered and in the background, the permitting process should commence right now.

Expand

Thats what we need Ubi - well thought out comments from a SH POV for the Co to consider along with their new Advisors

Cheers

BGS Price at posting: 36.0¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

WML

Woomera kicks off 2-pronged drilling at Mongolia's Bronze Fox Cu-Au play

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

LML

Lincoln Minerals to kick off fieldwork at Yallunda uranium project in the nuclear state, SA

QGL

Quantum Graphite snags new exploration licence in SA ahead of maiden drilling

TNC

True North shares jump on positive activity report as Cloncurry aims for Q1 production deadline

There are more pages in this discussion • 104 more messages in this thread...

First 66 Last

Add FFX (ASX) to my watchlist

Ann: Investor Presentation - September 2016-BGS.AX, page-66

Top Stories

Woomera kicks off 2-pronged drilling at Mongolia's Bronze Fox Cu-Au play

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Lincoln Minerals to kick off fieldwork at Yallunda uranium project in the nuclear state, SA

Quantum Graphite snags new exploration licence in SA ahead of maiden drilling

True North shares jump on positive activity report as Cloncurry aims for Q1 production deadline

Featured News