I took some profits off the table this morning.I was worried...

I took some profits off the table this morning.
I was worried that a lack of understanding about what AC drilling hopes to achieve would see the sp fall, particularly after the recent rise from the mid 3's. The market just wants sugar hits.
I'm back in the queue, albeit lower down. I'm not too worried if i don't get filled as i was probably overweight in KAL anyway.

I held ASX:BRB when they first discovered the Lake Roe Project (now RMS). In the stages before discovery was confirmed, AC drilling was used to 'see' below the surface, followed up by RC and later RD and DD drilling. BRB got a few very good results from early AC drilling, as have KAL, but the road to building a resource estimate is long. Lake Roe now has a resource estimate of ~1.6Moz. Sometimes it feels like progress moves in geological timeframes and is a game for the patient.

I'm attaching an early BRB ASX ann that shows AC results for comparison. See Appendix 1 on page 7.
433kgtzphd2ntr.pdf

A few thoughts:
* Drilling = $, so a quarterly update later this month as to how much cash we have on hand will be important and herald how soon we may see another CR to continue drilling. Matt looks like he can make the $ go a long way but no point running on fumes as that always weighs heavily on the sp.
* The 6c options are now probably out of play, sadly for me. I still have a decent parcel that i would have converted even if the sp was in the high 5c range. Better giving the money to the company. I could have contributed to around 400m of RC drilling.
* RC drilling is planned to commence soon, with several targets identified.
* EIS co-funded drilling also planned to start this quarter
* Wessex drilling also planned.

So there is lots in the pipline. I too believe today's ann was positive, it's just going to take time and money ...
glth
perdy