Quarterlies to drop soon (either tomorrow or Tuesday, at a guess). Will reaffirm A2/Amistad-1 results, and will provide more colour on Amistad-2. Spud for Ammy-2 by the end of May (given that civil works will be completed by end of April, this may be conservatve and we may see a spud in mid-May IMO). I am presuming it is Sherritt-1 again.
Spud to TD took 25 days on A2 (TVD 1,597m), however Amistad-2 will have a target TD of circa 1,039m (or thereabouts: 1B was intersected between 649 and 1,039m in A2, so its a matter of when they hit the VA. But circa 1,039 is a fair estimate, and should mean that spud-to-TD will be more in the range of 3 weeks (something like mid-June). Full appraisal on A2 took around 1 month, as a guide.
A2/Ammy-1 now on production. Ammy-2 now imminent, with Ammy-3 to follow. Interest in Melbana will build.
MAY Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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