Awaiting Grades, page-25

It's interesting that people are particularly concerned about the outcome of just one bore assay (due this week) when discussing the upside/downside with EUC. The point for me is they have $20M to spend over the next 12 months on numerous drilling campaigns, both above ground and below ground, which will test previously un explored areas (my understanding from Rob's commentary at the AGM). This campaign will also extend to Kolba.

I agree with Vintage et all that it is a punt, but one would expect with $20M in the bank the chances of finding something decent is much improved now; as opposed to prior to the capital raise when they only had 4 drills planned and no cash left after that AND when SP was >25C.   

Would it be reasonable to assume that the downside risk is reduced given the $20M invested by the Instos? Everyone always talks about manipulation, surely then they won't let this slide too far on just one assay and will want to protect their 20cent buy in.

Rob also emphasized at the AGM that the there would be news flow throughout January and February and that the team will work hard through the holiday period to plan the drilling campaign and other initiatives. Hopefully this will attract new year buying.

Anyway good luck to everyone and happy and safe holidays

IMO DYOR