Ann: Invitation to Investor Webinar Presentation, page-34

Following on from my initial take away from the Webinar, I think there are even more positives to be inferred when looked at in the context of the recent news out of the company.
>The original plan was for 6 holes to be drilled into the El Pilar intrusive - given where we are at in terms of funding levels, the potential value at stake from this drilling budget cannot be understated, so this is precious money. The objectives of this work were always to prove up the existence of a porphyry with commercial prospects, but more drilling and funding was always going to be required...
>The first three holes drilled into El Pilar have been promising and confirmed the existence of porphyry system - whilst not delivering stellar grades indicative of a mineralised core, they have been clearly "highly encouraging" (as per 28th June ann).
>In the context of what was disclosed in the webinar, the 15th August ann indicating a pause in the drilling whilst they conducted structural interpretation indicates:
- they are taking a sensible approach to extract maximum value from this drill program rather than blindly drilling more holes into El Pilar - CG openly said that this type of program will evolve based on what they see from hole to hole
- they either saw (or did not see) features at el Pilar, which have lead them to move the drilling focus to Gaspar.
- it is not clear if the Gaspar hole referred to in the webinar was the third or fourth hole in the program, but it is clear that what they are seeing in this hole is far more exciting than what they saw at El Pilar
- Given this, the fact that they still have budget for at least two more holes in the program is massively important and vindicates the slower, cautious approach they have been taking.

If I were to put on my rose-coloured glasses, the webinar presentation and disclosures therein have been something of a gift to shareholders to provide a heads up on forthcoming positive news.

Of course, put on a black hat, and it could be viewed as an attempt to get positive news out to move the price in advance of a cap raise (but if so, why not flagged as price sensitive?).

Anyway, I'm fully invested to what I'm comfortable with for this market segment, but if I weren't, I think it would be worth a punt based on where we are at.
If the funding position were to change via the arbitration, things would be very different
DYOR