It's an interesting BFS to read - numbers not too different to a lot of the laterites going around - so I can't understand the normal footy cheering pissing competitions trying to rubbish each other's investments.
In my opinion as is the case with a lot of these releases there seems to be a great expectation that the numbers themselves will build the mine!
Probably what many fail to realise is in this particular release it is a base case with room to grow and improve - this was alluded to in the annual report and consequently they have just completed significant amount of drilling and there should in theory be a healthy increase in resource and reserve - so far initial drilling results look pretty good in grades and width in my opinion.
Most importantly I feel all these numbers no doubt have been eagerly analysed by SKI and no doubt they have also passed on their comments- the simple fact remains they are looking for abundant supply for their goals and requirements and this is partly the reason why company has decided to drill more in my opinion
Ultimately I would seriously doubt SKI would run away now and its inevitable they will opt in soon in my opinion- $80m to these guys is chicken feed
The company also seems pretty confident with funding finance it appears hence the initiation of key appointments.
Based on the above and also the potential being Flemington I have bought back in
AUZ Price at posting:
6.1¢ Sentiment: Hold Disclosure: Held
(20min delay)