Lets take a few moments to consider things, what we know, what we don't know and the possible outcomes.
We know that MKY has a strong and effective leadership team. How do we know this ? Because of the previous history of the key directors
We know they have some extremely interesting tenements with strong signs of U and other minable mineral deposits.
How do we know this ? The reports so far indicating the findings of the geology team coupled with the phone conversations various posters have had with MKY and the excellent reporting on the AGM.
We know that the various surface based geo surveys have yielded strong indications of U in minable quantities.
I don't know, but I imagine that the geo team have been surveying the entire area and have by whatever means they use determined a series of areas of strong interest and that is the basis for the next step, trenching.
What I don't know is what trenching involves. Is it a couple of guys with shovels and a wheelbarrow digging a bit of a ditch ? Is it a machine similar to that used to cut a trench for laying cable ? Or is it a bulldozer digging a TRENCH big enough to hide an aircraft carrier in ? What we do know is that trenching is now complete and a number of samples, several hundred by the sound of it have been collected and tested.
We also know that the results of testing are now in the hands of Blood and the geology team. I imagine that the samples collected and sent for teating are given a coding or label number by either the geo's or MKY before they are sent away to be tested, so the lab gets, bag, box number xxx with lumps of rock or dirt in it, they then do their magic and end up producing the report.
I imagine the report is written in quite highbrow scientific terms and provides an analysis of the composition of the sample tested, therefore there are quite likely to be hundreds of individual reports that will need to be gone through and analysed by the team at MKY.
These results will then need to be translated back onto a map to give a better picture of U and other mineral concentrations from the sample source areas.
What information will they now have ?
I imagine the initial testing gave areas of interest suitable for further testing by trenching.
The trenching results will provide a more accurate picture of the amount of U in a variety of areas and depending on how deep the trench is some indication of depth.
The most important result is they will now have a better picture of where to start drilling.
What is drilling ?
I doubt they are just going to back up a rig a drill a hole in the ground, like you would for a well. I believe the purpose of drilling is to extract core samples for further testing. This should enable them to ascertain the overall size of the find, from a 2D surface and trenching survey to a 3D surface and depth picture. From that information they should be able to develop an overall picture of the amount of U in the area and an approximate value for it.
What am I hoping will happen ?
As we all are, trenching results showing high concentrations of U over large areas of the tenements.
What do I think this will result in.
If, and I stress if, the results of trenching are as promising as we all suspect, the SP will rise by a goodly margin. It will be on that basis that Blood and Co will be starting down the JV talks path.
It will not be until the results of drilling are available, I think, that a JV will be finalised.
If the results of the drilling program are good and there is a minable amount of U available and a strong JV partnership is announced based on that, then I think there will be another goodly margin increase in the SP.
How long is this all going to take ?
We know the trenching results will be available very soon.
We know that drilling is programmed to start after the wet season, around March. How long the drilling operation will take and how long it will take to analyse the samples from that, we still don't know, end of April or May at the earliest would be my guess.
My reccommendation for what it's worth is to go long on this one, I feel it's going to be very well worth it in the longer term.
Someone may want to post their thoughts on mining and how that will happen, afterall U in the ground is just that, U in the ground.
MKY
mky resources ltd
