31st dec first farm in, page-2

Yes the phase 1 drilling was due to conclude by the 31st of December 2012.......
A decision will then be needed to be made whether to progress to phase 2 of the project!

We certainly are overdue for a drilling progress update at the very least!

With company director Mr Michael Ralston converting 250 000 unlisted options in late November at .20c (expiry date April 2014) when the share was only .17c on market and then the company applying for and receiving a waiver from ASX Listing Rule 10.13.3 to the extent necessary to permit the notice of meeting seeking shareholder approval for the issue of 30,400,000 fully paid ordinary shares, for the acquisition of the remaining issued capital of Dateline Resources Limited are all very bullish indicators IMO......

"Interest) (First Farm-in Interest) by contributing up to A$450,000 towards an already commenced drilling programme of approximately 10-15 holes totaling 1,000m – 1,500m in depth by 31st December 2012 (First Farm-in Period) (Phase 1 Exploration Programme).
Upon completion of the Phase 1 Exploration Programme the Company may:
a) elect to cease sole funding exploration, in which case it will retain its shareholder interest earned as at the end of the First Farm-in Period; or
b) continue sole funding exploration, in which case, the Second Farm-in Period (defined below) will commence.

Second Farm-in
The Company may subscribe for up to a further 40% shareholder interest in Dateline (Second Farm-in Interest) by electing to sole fund a further exploration programme following completion of the Phase 1 Exploration Programme (Phase 2 Exploration Programme).
Funding for the Phase 2 Exploration Programme will comprise 4 quarterly payments made in advance of each quarter (Payment Period), commencing immediately after the completion of First Farm-in Period (Second Farm-in Period). Each payment will be of an amount determined under an agreed budget and totalling $3 million in aggregate across the entire Second Farm-in Period."