Ann: High-Grade Drilling Results Continue from the Antler Project, page-67

Not sure what's most concerning and dangerous about @BaltasarG last post?

• Falsely advising readers NWC is "absolutely derisked the downside" because of an erroneous leapfrog model and thumbsuck valuation from a conflicted CR broker,
• Gaslighting anyone posting reasonable observations (eg leapfrog model extrapolating collar direction for holes bent like pretzels) as stoopid or downramping just to buy cheaper,
• Crowing about sold and traded themselves into a decent free carried position when every post ever made exhorted readers to Buy, or
• That 16 readers are so desperate for bullish confirmation they liked this sort of cringeworthy ramp.

Probably just reflective of HC threads and one-eyed punters in a bull market, who cares about risks, results or pesky facts when the only way is up baby. If reasonable observations are upsetting, please stop reading now. The list of risks for an explorer who hasn't yet demonstrated scale to support high valuations, chronically under-drilled for a complex deposit, years off a DFS, permitting and funding potential is huge, before even mentioning the fibrous-silicate elephant in the room. Project's are de-risked with actual results not ramps... damn but it's slow going waiting for assay results of holes drilled and logged months ago.

Heard De Amitri's song 'Always the last To Know' on the radio yesterday and had a laugh thinking about NWC, made me have another look at what's going on this morning. Table with 13 outstanding hole results highlighted, rough location map of the southern pad with 4 holes drilled ENE and 5 holes drilled SE.


LS with rough guess of pierce points from eyeballing the collar azi and dip to provide an idea of where the outstanding holes have been targeting. Heaps pf gaps need to be filled obviously, especially close spaced along strike of the Northern Shoot to define how wide the shoot really is. Normally a company tests to the strike limit of a shoot at each elevation every step down to define the orebody size with only a couple of deeper holes to confirm the shoot continues at depth. NWC has chosen to first see how deep the shoot goes first, then come back and see how skinny it is or isn't.


The upside or downside to resource size potential, and thus mine reserve/valuation potential, is self-evident and needs no commentary from me. The market has been correctly 'guessing' that results probably haven;t been great for some time. Last hole logs were released 12th March... four months of drilling and no logs even though company stated in the past "don;t need to wait for assays to design next holes because we can see the mineralisation in core". Four months is a bloody long wait to only receive assays for 4 new holes since March 12th... Colour me a downramper for pointing out the obvious implication that results probably haven't been spectacular, or maybe worse.

Still an interesting story but a long way from "absolutely derisked the downside" imo. Whatever makes you uncomfortable I suppose, ignorance is bliss as they say. Reminds me of the line in another Del Amitri song, Nothing Ever Happens... "And ignorant people sleep in their bedsLike the doped white mice in the college lab".

Good luck