Ann: Carlow Castle Update and Proposed Capital Raise, page-23

Yeah - I remember well your comments and reservations about Carlow Castle and when they re-oriented the drill rig to be drilling orthogonal to the orebodies there was that nasty surprise of disappearing ounces of gold and increase of tonnes, but at almost uneconomic copper grades. Its obviously a complex zone of mineralisation but the older drilling at the sub-optimal orientation has smeared a few skinny high grade gold veins into something that had the illusion of an orebody, but fell over under rigorous testing/investigation. At least the consultants gave them the heads up, but its very embarrassing for ARV as it seemed likely that some potentially interested parties doing due diligence might have twigged onto the fact that maybe something was wrong with the Carlow resource? Would have been a horrible sinking feeling for them to call the field staff to demobilize the drill rigs....

At least they found out about Carlow Caste now, imagine if they had commenced mining and then found all this downside and geological complexity after the first few benches?

Back to spruiking "nearology" in the Patterson under hundreds of metres of cover.