Ann: Bonanza results up to 9m @ 35.88g/t gold at Bombora, page-132

afternoon all,

yep -- pretty good post IMO


I would comment on a couple of things by other posters --


DrillDown2014


"Thinking DCN - up around $4 then smashed with CR then up and away."

I wouldn't concern myself with any comparisions on the DCN raise -- that was a timing disaster --

I spoke to Tom about that - he was across it at the time - I got the impression he wouldn't fall into the trap.


davmarc


"The recent high grade results were outside the infill drilling zone, is that correct? If so, what was the rig doing there? If your running behind on a DFS isn't it all hands to the wheel?"

hi dave --- my thoughts are that that thinking is incorrect --


I don't think there is or was a panic for catchup -- the impression certainly seems to be that this just got bigger - perhaps a little more complex - but, that by the time it was getting nearer the stated original JORC date - which was set very early - that it was clear that by extending the time a bit - that the company would get a much better result - probably bigger and probably a clearer result --

so, really - a strategic decision for a better initial JORC - ie. why bring an initial JORC to the market that is smaller than you just know you are going to get if you extend by a quarter - which you didn't expect you would do that almost year back when you first put out a date prediction?


now as to the " If so, what was the rig doing there? If your running behind on a DFS isn't it all hands to the wheel?""

Absolutely not

here are the facts --

we have a very good sized piece of dirt that we are drilling for JORC -- but, it's crystal clear that the overall area is much much bigger.

it's also clear by some of the recent 'outside' drill results - that the outside areas are probably not just flukes - they may well be highly lucrative additions to company value - even if they are only deeper (no real evidence of that one though - could be deep and shallow - too early) -


Now - imagine that we had - 'all hands to the wheel' as you put it (meaning, no scouting etc.) - and, we come up with an initial JORC and market conditions fire up the M&A movement in the sector --


the question is --

A. would we be better off having an initial JORC out to market - perhaps half a quarter or a quarter earlier -- and zero results from what lies outside that area -

B. or would we be better off showing some really good solid numbers weeks later from potential satellite areas (which may or may not eventually join up) ----- plus, our initial JORC
(some of those outer results we got are pretty mouthwatering)


to me -- strategically -- it's chalk and cheese --------------- B wins hands down


And, I doubt if it's only me who would be interested ---- the big guys would love to sit back and let us do the donkey work -- then look at the data - then, make a move--


I am certain that they would be far more interested if they see a solid JORC resource and some really good stuff showing up suggesting that there is far more there than what is already estimated or measured - to whichever level we get our JORC at.

Also - if we get an offer - and we have the JORC and that's it - how differently will we feel if we have the JORC and some big numbers outside showing a very very very large field?

Much easier for us to sit back and say -------------- na thanks fellas --- keep the 4 bucks - we will wait to see what comes up when we drill out there some more - but, keep in touch


hope that makes sense

have a great arvo

Pinto


PS - lets not forget that we have lamprophyre from 'one end of the project to the other' -

and, we appear to now be showing gold - from 'one end of the project to the other' -- and, she's getting fatter by the quarter

where else in the world has that much lamprophyre showing up in a goldfield???????????