Tinstuff11 My understanding is Government reimburses 50% of...

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robamac47

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27/12/23

15:44

Post #: 71629916
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Originally posted by tinstuff11: ↑

Thanks for the post tallplumber - 0.1% is a pretty low threshold and I hope we really nail it.

Interesting that only selected sections of the core to be cut and sent for assay

"The hole is now completed to a depth of 699.6m, which is essentially in the middle of the modelled
strong gravity target. The drill core has been shipped to the Mt Isa facility where it is now being
logged and inspected with a view to identifying which sections of the core should be cut and sent
for assay. Assays will be reported in the new year once results have been received. "

The NT Government is contributing $100k [or up to $100k?] for the assays.
Now if only say $150k is spent, then one wonders if NT Government still pays $100k, or do they only pay half - ie $75k.
NT Government paying more than 50% seems wishful thinking to me.
Anyway, it comes down to how much core is assayed.

The Mt Lamb announcement July 28 2022 detailed this course of action re assays:
"The Company will now focus its attention on completing a detailed study of drill core and expediting core cutting for dispatch
of samples for assaying, with current laboratory turnaround times of 8-12 weeks from sample dispatch"

@ the time I thought only selected samples would be assayed - further to select the samples a scanner to be used.
But in the end I think all the cores were sent for assay - which costs a lot more than only sending samples.
Please correct me if I am wrong on this

So far today no trades - heading into a holiday break.
The buy depth has built though - to 8.5m

Cheers

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Tinstuff11
My understanding is Government reimburses 50% of costs up to a maximum of $100k.
Cheers Rob

ICG Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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