Folks this is the key bit too me in the revised announcement:...

Folks this is the key bit too me in the revised announcement:
AVZ is planning to complete an initial 20,000m drilling programme, due to commence early in Q4 of 2017, to define a Mineral Resource (compliant with the 2012 JORC Code) within the Manono Lithium Project by early Q2 of 2018. The initial program of drilling shall be completed on sections some 200m apart and drill hole sites 50 to 100m apart.

I will repost an image below, but what they are striving for here is to identify a 'measured' and 'indicated' resource because the spacings of the planned drill is what you do for determining measured and indicated resources which justify a decision to mine (i.e. the mine decision is made after you chuck in a few assumptions around cutoffs and opex, to work out what becomes your proven and probable reserve).  Well I said today if we simply seek to sell with an inferred resource we would be lucky to get 25c as inferred never justifies a decision to mine, but if the drill bit does the talking and we can identify good solid 'measured' and 'indicated' resource estimates complying with JORC well the sales price will be higher. Obviously the counter risk is the drill bit won't give us what we want, but that is the risk you take in such plays.

Interesting times ahead and I just wonder whether this Ann was to give a message now to prospective suitors  - take us over now or pay more if the drill bit comes in our favour.

All IMO