Ann: Borba Operations Update and Prospective Resource, page-205

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Randy Savage

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19/02/21

18:42

Post #: 51168460
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Originally posted by Holmes123 ↑

Checking back on ASX announcement 10/2/20 agreement signed Rig 5. Checking back, on Dempsey drill it was Rig 9 drilling to total depth, then it was moved off and Rig 5 took over to complete assessment of the drill.

It roughly took 5 weeks to drill to total depth, then 3 or 4 weeks to change to drill 5 then Rig 5 was on site to complete 3 to 4 months. As we all know G.J. runs the company on an oily rag, he will surely know Rig 5 is capable to carry out the well knowing it will be on site for hopefully a considerable time. Drill and assess Borba skid Rig around drill another hole, this all points to Rig 5 being on site plus 6 months. It would make good sense to go for the cheaper Rig especially as I am sure G.J. will know the end result will be the same.

Well 2 days in the red after risk assessment certainly a knee jerk reaction to the share price. Nice to see normal service resumed back in the green today. If they spud on Monday morning with the time zone would expect ASX announcement Tuesday morning, then it is over to the drill bit. G.J. has informed us a lot of news to update us in the coming weeks. Exciting times ahead, hopefully the share price is onwards and upwards, it could well be a roller coaster ride just as the last 2 days have shown. Not for the faint hearted.

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Drill rig 3 performed the flow testing at Dempsey, not 5

SGC Price at posting: 8.2¢ Sentiment: Buy Disclosure: Not Held
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