Ann: Artemis to Drill 3,300 Metre Super-Deep Hole in Pilbara, page-171

ARV is not a BHP or Rio Tinto and given this "Geological" wildcat 3.3KM hole that may prove to be a Duster... who is paying for it?? The shareholders ultimately.

The O&G wildcat drillers spend a huge amount of money on Geophysics with 2D or 3D interp's before they attempt to justify such a hole in order to get shareholders support. The well endowed O&G types have a lot more cash to splash on such drills, however if an O&G junior attempts such a Wildcat drill and it turns out to be duster, what do you think happens, they usually bite the dust .. think of MEO/ CUE and numerous others. Leave the deep drilling Esoterics to the BHP's, Rio Tinto's types .. they can afford to be geologically esoteric.

We were sitting in the buy queue with a large order before the announcement .. not anymore

As many posters have pointed out .. the action right now to a commercial pay day for ARV is within digging distance with bugger all strip ratio. Is the CSIRO going to produce an immediate cashflow for ARV ?? .. hardly think so, I think Ed Mead has a far better handle on what goes on than they do and I would think he will have to spend precious time away from the real action bringing the CSIRO up to speed with the local surface geology nuances. If you can't make money in the first 300 metres on tight budgets then you need to rethink your position, unless of course you have a lazy $100Mill or two to spend on a deep greenfield journey.

Just my views as an old fashioned rock banger who has a propensity to find shallow deposits .. I think
@blackcat would know what I am talking about.

Good luck to the company and the deep drill program, obviously they have their own reasons for it, but it's not my cup of tea as an investment proposition.

HR

No advice .. just my views, who knows? the ARV crew may prove us sceptics to be wrong in the very long term. I can't wait that long.