so this was the latest as at 20/10, no updates since:
based on this, this quarter they are undertaking more studies in the background (mining, processing, operability) - I doubt anything will be released until the formal scoping study is completed by Q3 per the above, but these will help ensure the scoping study basis is solid.
Infill drilling planned to kick off mid Q1 per the above. As well all know infill drilling isn't cheap and with $5m cash in the kitty as at september 30 2022 I am betting a cap raise will be completed within this quarter to get funds for the infill drilling.
Per ASX rules, scoping studies must use indicated resources (or a large portion thereof), use of inferred resources is a no-no and requires lots of disclaimers in the study (see cautionary statement used here where ~60% inferred resource went into study https://hotcopper.com.au/threads/ann-korbel-gold-project-starter-pit-scoping-study.6613220/). To get a decent chunk of indicated resource to then give the scoping study an economic life of mine and throughput, that will take many km of infill drilling. So they will need to get some funds sorted if they want to get that scoping study done by Q3..
POD Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
