Hello Meric, if we averaged 16 m per day, like we did for hole...

Hello Meric, if we averaged 16 m per day, like we did for hole one, then we will enter the porphyry target on 23rd Feb and leave it on 7th March; and enter the feeder zone on 11th March and leave it on 14th March. Now 16 metres per day is abysmal and this is the worst case scenario. At and average of 30 metres per day, which is more realistic, the dates are 17th Feb - 23rd Feb and 25 Feb - 27 Feb respectively. I have got these dates from published informaiton and scaling of the target depths from the proposed drilling cross section. I could be wrong but I don't think by much. My preferred scenario is an average of 30 metres per day, and if so, we are about to enter the feeder zone. The target rate is 50 metres per day and if this was achieved we would have completed hole 2 on 21st February.

I think you are right. There is a presumption that anything significant would be announced by now; but from historic drilling rates it is too early in my view.

ARD are drilling good technical targets. If they are found wanting, that's exploration and so be it. In this case I would expect the SP to retreat and for me that will be a good time to buy more shares because the Companies potential company making target (West Wylong) has yet to be drilled. Of course West Wylong might be a dud too; but again that's exploration and one backs ones judgement based on facts.

I've drilled lot of barren holes in my life and enough to know that the company making intersections are a rarety and that the odds are stacked against ARD. Nevertheless with competant, professional well focussed management and good exploration targes, in my view ARD are worth a gamble and I am comfortable with my investment in it; irrespective of the results from hole 2.

Of course none of this is investment advice.