GIB 0.00% 3.8¢ gibb river diamonds limited

Ann: Completion of Phase 5 Drilling at Edjudina Gold Project, page-30

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 7,708 Posts.
    lightbulb Created with Sketch. 563
    Hi Super G,

    GIB's number one objective is to drill as many holes as possible at edjudina, there is no point doing a mineral resource estimate yet because they simply haven't fully defined the Neta deposit yet. It is changing with each drilling campaign, hence doing a resource estimate too early would render it obsolete rather quickly which would make it a waste of money and time.

    You do one when you have a complete picture of the deposit, ie when you can satisfactorily say it is closed off in all directions. Currently Neta is still open at depth and with the recent phase 4 drilling GIB discovered the Morphy lode on the eastern edge of Neta

    I would rather them spend their funds on additional drilling and keep finding ounces of gold and hopefully finding additional Neta look alikes. This is where the uplift in SP will come from.

    Cheers
 
watchlist Created with Sketch. Add GIB (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.