Daily Discussion, page-4738

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mike1989

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19/01/24

14:40

Post #: 71965559
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Originally posted by Shakethecup: ↑

I'd said Feb/Mar for results around November (I think?) last year with an explanation on how approvals processes are held up during lore time and summer. I've worked drilling previously, I currently work in the sampling space now and I've checked in with old colleagues who are currently TO/heritage team leaders and all of that has combined to give me that date.

Could sway either way but here's some rough thoughts for my march +-1 month prediction -

- General practice would be lore ending around Christmas and a slow start up due to summer heat. A lot of teams shut down over summer (don't forget a lot of exploration has only just fired back up too) Dusko did mention he had some good comms with the TO's but even so I feel best case scenario would be end of this month for full approvals. Feeling is more like mid Feb.

- My experience is in RC however I've just stuck my head out the office and queried with an ex diamond driller, average meterage would probably be around 50-100m per day for surface depending on ground. Hard rock can send a 1.5m rod in 30 min and detrital ground can have half a rod in a day. I'd expect pretty hard ground with what we are looking for, I can't remember from the AGM what the total meterage planned was but I did ask how many rigs/plan of attack and the question was skirted haha. I would expect we will probably have 2-3 rigs with the first core samples getting sent off within 1-2 weeks (mid to late Feb.)

- turnaround time might actually have improved given the slight dip in pressure and pull back from a couple of larger ops however I still think 2-3 weeks turn around was pretty optimistic, less so now given industry conditions but I will give the benefit of the doubt and say 2-3 weeks from rod pull to results. This gives us early March ball park.

I'm not an expert by any means and I don't have a damn clue what any of the trading lines and charts means but I don't trade I invest and like a lot of you have said, it's all p*ss in the wind until each of these steps occurs. I think I have a justifiable amount of exposure to the industry to stand by my timeline, if nothing else purely because I understand the bloat and red tape in the industry. I'd hoped for a Chrissy gift too and I'd love to be proven wrong/will eat humble pie with a smile on my face if any of these stages happen earlier but the realist inside me tells me March is a pretty good date to aim for.

As Alex Jones says...DYOR

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plz correct me if i am wrong. You mean early March for drill results? But have we started drilling yet ?

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Daily Discussion, page-4738

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