Greetings from Norway. This jetlag is seriously eating me away. Not even glasses of full bodied shiraz help with the sleep.
Certainly an interesting comment from the Company regarding soil sampling results as 'not material in nature'.
This made me load up the previous announcement to take a good look at the description of their soil sampling regime, alongside the objective for this.
It looks to me that soil sampling, being only 30 - 70cm below ground level, is pretty much a pitting program to determine if there are any showings of copper in the first place - and if so, whether the copper existence is present within zones wide enough to warrant actual drilling. Just a bit of guesswork here - but I assume that that it's not about 'copper grades' (in the usual form of %) since it looks to me like it's just preliminary testwork to see if further exploration (ie. drill) is needed - hence management / CSA's labelling this project as a 'greenfields exploration play'. That may be the reason why management / CSA are suggesting that these particular soil sampling results are not 'material' or some have mentioned here - 'price sensitive'.
The RAB / aircore drilling for the cobalt, however, looks to be a different story. Since 1000 metres of drilling is being undertaken, grades for cobalt will be determined - as confirmed in the announcement. To most speculative punters, this is the main play - and the one with hopeful cobalt grades that the market will really want to know.
A bit of guesswork again - but one would assume the cobalt drilling to be finished around this time and that drill samples are sent to Zambia for testing after completion. Let's see if management / CSA will highlight the expected time in receiving cobalt drilling results come the announcement for the copper soil sampling.
If indeed most punters are here for the cobalt story (which I'm guessing so since the market has fallen in love with cobalt stocks), then there may be a wait for drilling results for another week or two. Again, just personal opinion and estimation given how the timeline has played out for the soil sampling analysis and recent website update.
RMX Price at posting:
2.4¢ Sentiment: None Disclosure: Not Held
