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11.5¢ red metal limited

Ann: December 2015 Quarterly Activities & Cashflow Report, page-9

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02/02/16

00:36

Post #: 16918410
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Originally posted by eastwest101 ↑

Yes - the problem I have with Irindina is that its all under 80-100m of Mesozoic and younger cover rocks so I am a little dubious about any of the geochem meaning too much, the cover itself isn't a problem to drill through, but it means every hole you drill to test basement costs more before you start testing the rocks of interest. The conductor is promising but its modelled at 200m depth and its 1.5km away from the geochem anomaly and the Basil Fault, so possibly requires 2 holes - one to test the conductor and hope to god you hit a potentially steeply dipping conductor, plus another hole to test the geochem closer to the Basil Fault (seeing as the rig is already out there). Even if the conductor is something good its possible that its another Basil (lots of tonnes but terrible Cu grades) which would be a 'technical success' but a bit of a drag for us. If they drill the geochem target and nothing much comes up then it just confirms that something else is going on and they should re-evaluate their geochem soil techniques in covered or concealed terrain. Look its a long shot/greenfields/wildcat target but good on them for having a go.

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Rdms sales volume is so poor

RDM Price at posting: 3.8¢ Sentiment: Sell Disclosure: Not Held
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Last 11.5¢		Change 0.000(0.00%)		Mkt cap ! $34.46M

Open	High	Low	Value	Volume
11.5¢	11.5¢	11.5¢	$5	40

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No.	Vol.	Price($)
6	256622	11.0¢

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Price($)	Vol.	No.
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