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Ann: Drilling Update at Aileron Gold-Copper JV with Newcrest, page-17

  1. 5,494 Posts.
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    In exploration - time is money - the drilling contractor will lose out on the job because the rig was demobilized, broken down drill rigs don't make any money for the drilling contractors, broken down drill rigs also don't get metres drilled until later when/if a replacement rig is sourced or the rig is fixed. Metres not drilled means exploration and results deferred until the metres are drilled, samples taken and assays returned. No samples and no assays means bored shareholders - some of which may move money into companies that still are more active/drilling. Not saying that's necessarily the attitde of all shareholders but it must have some effect on some part of the market.

    It may be very well true that there are 6 other prospects to be drilled by ENR, but the wet season approaches and doesn't wait for anyone, drill rigs and crews are in short supply australia wide, maybe that rig was also scheduled to drill somewhere else in ENR's ground? Delays are delays - just got to deal with them if they arise.

    Sure a drill contractor having mechanical problems is bad luck and out of ENR's hands, sometimes plans have to be adjusted to rigs that break down, turn up late etc we all get that, drill rigs don't fall out of the sky at the moment, they have to be booked and planned for and even then plans can go awry. It was most likely Newcrest's choice of drill contractor and their own timing and priorities so don't know why you have the idea that this is ENR's fault?
    Last edited by eastwest101: 21/10/20
 
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