Great response TJ22, at least you know a bit about the logistics of IP Surveys !
Just as a quick response to that poster who stated, and I feel emphatically .... see below.
Sorry Siva108, NO, that's not the way it is, sorry again Buddy.
Having spent a lifetime in base metal exploration, this is how the IP program will progress, simple.
After all, CNB have only announced the IP program will start this week !
Here is how it will happen:
1. A contract 'fieldy' from around the Mt Isa area will peg & flag the lines for the IP Survey.
2. The IP Crew will mobilise ASAP +/- a few days.
3. On arrival, they will dig holes for the lectrodes, spacing of 100m +/-
4. Using their water cart, they will add a strong Saline solution (water + salt) and line each electrode hole with a Siver (Ag) foil for the complete electrode.
5. First day with Tx (Transmitter) & Rx (Receiver) drag wire out on one line at a time to each electrode, time consuming.
6. The IF crew offsiders will walk the line with a Rx, a Pot to put on each electrode, take readings as the Chief Geophysics Tech will Tx (Transmit) at variable voltages and power.
7. Complete one (1) line per day.
8. On the 5th day they might be lucky enough to be getting close to completion, then the NE - SW Line.
9. Pack up and head back to Mt Isa forward the readings of CHARGEABILITY & RESITIVITY.
10. The Consulting Geophysichist will then FWD their interpretation to Headquarters back in Perth.
11. CBN will accept with questions, discuss suitability of a Ann.
Then the Ann, say 14 days from now +/- depending on which time zone people work from.
So there you have it, IP is cheap yes, but it does not happen in one day ! Why you ask?
A. There are four programmed IP lines of approx 1200m in length, plus + the NE - SW line right across the four lines.
So if we add that all up, when I went to school, 4 x 1200m = 4800m
Add the additonal line of NE - SW of 1200m = 6000m or 6 Kms TOTAL.
Just be patient, no ones knows anything about the IP at this stage, let alone interpret the survey.
As far as a CR, what a comment this was, sorry poster, but you fall very short as to why & when CR's are announced.
You stated, and I wont expose your post, "why not wait until after a few more Price Sensitive Announcements ....... They Are Idiots If They dont !
You see my Friend, Price Sensitive Announcements can have either a +/- impact on MC, full stop. Call a CR right now would be perfect, after all, what are the ASIC Rules on % Discount against MC, I have forgotten. But, I feel that they will CR at a 14 Day VWAP Less Discount ..... then whats my guess? $1.30 -$1.50 discounted, done and dusted through a Insto/Broker. Too easy !
GLTAH, but remember, these are drill holes in a Brownfield Region, one swallow does not bring on Summer unfortunately.
Cheeeeeeers.
(20min delay)