Drilling has started, and Boart Longyear has their "A-Team" on the rig, so they are hopefully smashing it down. Every rig I have been on, regardless of the team, usually has some issues at some point, so I wouldn't be concerned if minor hiccups occurred/ dropped a rod/ get stuck for a few hours, as long as the core recovery is >90%. It's only a matter of 4-6 weeks for logging and sampling to yield some results, perhaps November for an interim results update? Depends on the backlog in the labs I guess. Either way, I expect it will be a good Christmas story.
Interest is picking up on the buy side, sitting at 30 cps at the moment. With positive results, easily up to 40-50 cps.
EM2 Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
