Olympic Dam 2.0 - BHP has hit commercial copper in every hole., page-166

Lester yes I do share some of your frustrations but for me the jury is out until the next announcement.

Most micro caps wanting retail money to explore and drill would have all the glossy investor presentations out by now and would be attending all the conferences. Then a month or so later a CR is achieved to fund the program.

The only item of note from CHK in recent times however has been Avi’s letter to shareholders which while appearing to target shareholders was more a strategic announcement for potential JV partners imo - letting them know we can and will go it alone if needed.

Strange or perhaps those glossy presentations do exist after all and have been saved for those with bigger pockets than us?

Retail money will probably give CHK a fighting chance at a discovery with 2-4 holes and then a dilutive raise or asset sale if more holes are needed. It’s worth keeping in perspective that after the original discovery at Carrapateena another 30 holes were drilled before they hit mineralisation again.

However if we can score a JV partner on the right terms perhaps we will see exploration drilling at a rate and with gusto demonstrated by BHP with Oak Dam West. A much better option on the right terms and timeframe imo.

Presentations aside these guys will examine the data from Horse Well and the historic drill hole with a fine tooth comb prior to committing. Data analysis improvements is a big reason why Oak Dam West was discovered so easily after all these years.

Horse Well data looks equally as compelling to me and all the modern research quite rightly points out the edges are the places to be - let’s not forget CHK also have the edge of the strong magnetic anomaly pointing out the side of Oak Dam West.

https://www.tandfonline.com/doi/pdf/10.1071/ASEG2013ab242

‘Magnetic anomalies commonly contain low grade (.1-.2%) copper mineralisation. Deposits with offset magnetic responses predominantly show low grades associated with magnetite. The best grades occur where magnetite is absent, occurring in association with haematite and sericite alteration. These high grade zones generally occur immediately above, adjacent to or both, from the low grade magnetite mineralisation. Magnetic anomalies are not a direct vector to mineralisation but their margins may be favourable.’

So if this is what’s going on I’m ok putting the jigsaw together, picking up the crumbs and going along for the ride. If not then yes I’m frustrated too.

Reading between the lines my guess is we will find out soon.