CDV 0.00% $1.08 cardinal resources limited

I disagree. They have another 3 weeks of Q3 to receive and...

  1. 2,516 Posts.
    lightbulb Created with Sketch. 290
    I disagree. They have another 3 weeks of Q3 to receive and process any and all results into their model. Remember, we started off with 3 rigs, then 4, then 6, then 9, now 11 rigs working 24/7 at Namdini - that says urgency and the primary urgency is the impending end to Q3.
    If you look at last years JORC resource which was released 7th November, we had not received any drill results since 16th August. The extension drill program (of 19 holes) commenced 30th September and there was no separate ASX announcement for these results until the JORC came on 7th November. That means the lab results went straight into the resource model and then to ASX.
    IMO that is what we will see here.
    If the labs are delayed and the resource upgrade can't be released in full during Q3, they would be better off releasing an ASX announcement to this effect, rather than releasing a resource based on half finished model. That and, the obvious cost of doing it twice.
    We know the SGS labs can often be slow - we saw it last year before Archie split the cores between two SGS labs (which helped somewhat). After all, SGS would have ~64 odd holes from Namdini that are now 650-700m in length (about double the length to previous).
    Time will tell...
 
watchlist Created with Sketch. Add CDV (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.