Ann: Company Strategy Update and Board Changes, page-85

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The_Mule

136 Posts.

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11/12/24

17:30

Post #: 77003922
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Originally posted by eastwest101: ↑

Just on this, and the rather unfair accusations of "directors specials" flying about, I was following this exploration story fairly closely, and there was extremely limited information on the surface at the commencement of drilling and almost no historical drilling to rely on, and they got the long intersection of quite high grade, then upon further drilling and only after the results of this drilling, was it possible to conclude that the early drill holes were drilling down dip or had hit a patch of high grade that was not continuous. That's normal exploration in the early days of drilling.

What "directors specials" actually are, is when there is a lot of existing drilling already done and the orientation and dip of the orebody is known, and then someone sets up a drill hole to drill down dip or down plunge within the orebody deliberately to get an exaggerated down hole intersection result to either pump the share price or some other weird KPI. Thats not what happened with CPM.

It's common to see HotCopper posters dismiss metallurgical drill holes as "directors specials" when this is the one time where companies do want to drill down dip because the idea is to obtain as much core sample as possible to do detailed metallurgical sampling and test work.

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I had no idea of the true meaning. I was just relating it to what everyone wants. Long intersections of high grade. Its a shame follow up drilling disappointed. Thanks @eastwest101 for the true meaning and look forward to future announcements. Still a lot of copper to be mined in the greater Mt Isa and surrounding districts.
Mule

CPM Price at posting: 4.8¢ Sentiment: Buy Disclosure: Held
6 Upvote

2 Great analysis

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