Oh shyaam... we all know which one... but I'd say that the result achieved there, given the growth prospects of where their current operation + demerger is going, I'd say its a pretty good outcome.
@HeliosUK know's what's up
Now, at the risk of being pinged for cross-promotion, I too thought that it was of significant note that Cenkos is also now on the register.
For the new-to-SHP, here's why the current SP is laughable.
Exploration for Potash within the Ohmgebirge licence actually begun
way back in 1894 with drilling and downhole geophysics.
The Ohmgebirge mining area is very well known to be a potash-bearing area and some serious exploration recommenced on Ohmgebirge in the 1960s and all the exploration drilling was conducted by the former GDR state mining company. Historically,
14 exploration drillholes (including one deviation) have been drilled within the current Ohmgebirge mining licence area. The additional drillholes located around the Ohmgebirge licence were used to essentially create the project "database", bringing the total number of drillholes used for the resource modelling work to
41.
Of the 41 drill holes used in the model, only 4 did not intersect the z2KSt potash horizon. In terms of the technicals, drill hole spacings ranged between 970m-2400m with an average of approximately 1000m and are evenly distributed across the property.
Key to the next phase of the imminent value up-lift is this - The company already has on hand the drilling information for the drill holes made during the 1960-1963 and 1982-1984 exploration campaigns. All drillholes were cored. In terms of the drill hole logs, they include a detailed lithological description of the
entire drillhole, which was also summarised and graphically portrayed alongside the downhole geophysical logging and assay results. Logs are available for 27 drillholes whilst information regarding mineralogy and stratigraphy were read off historical maps for 14 drillholes.
ALL the information is there, but in terms of ASX Compliance, the 2 confirmatory drill holes have to be drilled (hence the recent communique re the "2 holes") to be able to release the information properly and upgrade the JORC "inferred" resources to "indicated" - in which case, from a corporate point of view, the company will be able to release a few key figures - namely the NPV (8 I believe, but could be 10) and also the IRR and then in very quick succession, the feasability studies.
Given that we are on the cusp of having way more overseas investment into SHP, this next re-rate is going to be pretty significant once we get those numbers. Remember, the data IS ALREADY there, but they can't release it until the 2 holes are drilled.
At present, its like seeing a big present under the Christmas tree, but already knowing what's inside of it, and that the present has your name on it.
DYOR!
(20min delay)