Ann: Diamond Drilling Commences at Yandal Project, page-3

Including the 7 sites spotted on sentinel at Palomino there are now nearly 40 areas of disturbance between the 9th to 22nd of April. Google earth interpretation. Accuracy NOT guaranteed but relative locations are OK given the methods used and the resolution available.


White Hexagons represent interpreted activity since the green circle interps were reported on the 9th of April.

Locations generally make sense for Konik/Palomino and Mawari.

Additional sites/holes? at Palomino which could be a positive indication.
The NW-SE line at the northern end of Palo. is a bit of a puzzle. Looks more like aircore size at the moment but they don't have one on site - or do they?

Some "wildcat holes" west and north of Mawari? Putting previous drilling and collar names on the above image disguises the new work. Most previous drilling is visible as white dots anyway - details can be added but won't for now.

Source data



green dots transposed/interpreted from this time lapse. DYOR.


Some sites may be related to logistics at road junctions or other.

Detail at Palomino


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Rabbit Well had a possible final flurry before the rig moved to the HW area around mid April.


Activity at previously interpreted sites.

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A question for folks who find the Serbian deal problematic.

Would some smart folks (specifically AB with 10%, Ibaera (19.4% escrowed for >1year) go ahead with this deal if they didn't feel there was a profit?

Not many deals cause the SP to sky rocket or plunge overnight. Takes time and results to show what will be.

The above sentinel imagery shows the momentum of activity at Yandal was not impacted by the Serbian agreement....yet. Given the cash position of STK, and statements in the webinar, I don't expect much more than business at usual here for the rest of this year.
Good results can be met with additional rigs. Poor ones with testing of the many other targets available.

Were Ibaera sitting on a couple of good holes at Medenovac which have now been sent for processing and assay. Results in a month. PXRF and visuals for base metals would give the Serbian team a good idea if they were interesting. Good to see that drilling can proceed there in the middle of winter. Might not be too pleasant but perhaps more like a summer compared to drilling at -40+c in northern Canada.

I was somewhat happy to see the deal was structured mainly on shares.

How are Ibaera going to make money? SP rising from a combination of results from Yandal and Serbia. Their objectives will not directly align with those of long term holders in other than a SP increase. So does it really matter if that is accomplished by any of the following? Exploration success, some Millrose type transaction, and/or a JV sale of Serbian assets. SH's will get the benefit of SP change and/or "cash/scrip" back for their holdings in the case of a sale.

Ibaera are probably constrained by the escrow phase of the deal in terms of what they can do. The number of shares was structured at <20% but would the options put them over?

Said before don't base your hard earned on the advice of Geos. PL'H is a geo and is optimistic - has to be.

GLTAH