Drilling will be delayed due to the wet spring delaying harvesting of the farmers' crops. Now expected to start in January. Rare earth minerals was not talked up at all - too early to assess if it will be profitable. The Kaolin resource is good quality - enquiries re supply have been received from China. Will come down to pricing. Activity centred on graphite. ANZAPLAN analysis of the Sugarloaf ore is expected in January - optimistic that the results will be favourable. No estimate of the size of Lacroma as only 1 hole drilled. The rock from that drill matched Campoona so great confidence in a major improvement in resource volumes once this latest round of drilling is completed. The Campoona (& Lacroma) graphite is ideal for the oncoming battery revolution and with an environmentally friendly means of processing should appeal to battery manufacturers. Before they sign up they want 5 times the annual volume of our current mining licence and a mine life of 20 years. This next round of drilling if successful could well be the making of our company.
ITM Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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