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1.6¢ paterson resources ltd

Ann: Grace Gold-Copper Project - 3D Aeromagnetic Modelling, page-27

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6,587 Posts.

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23/07/20

21:13

Post #: 46048447
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Originally posted by RedDirtRipper: ↑

"The Company is currently working up an exploration programme for the area which will include geochemical surveys, IP geophysical surveys and drill targeting on gold mineralised extensions and structural targets, IP anomalies and magnetic anomalies."

So 2 years of not being listed and they don't yet have drill targets. So it sounds like 3 months atleast before geophysical surveys/geochem are compiled and drill targets are identified. So then its just about cyclone season out there and access is limited by rain.

So the cash will last til Dec according to them and may not even include drilling. So by that logic, CR most likely as soon as a drill program is announced in Oct. Shame that they didn't have their ducks in a row for a quick start to drilling.......

Deep drilling won't be cheap and surely a consolidation is needed before issuing any more shares (3.9B is already too many).

Still might grab a few but setting my expectations lower in the short term. Hard to justify 20m MC while there is not much cash and a shady history.

Good to see it trading again, DYOR and GLTAH

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never forget potential JV. This is going to be cracker.

PSL Price at posting: 0.2¢ Sentiment: Buy Disclosure: Held
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