Thanks HC, Yes, silence is indeed golden, as the old song says....

Thanks HC,

Yes, silence is indeed golden, as the old song says. Occasionally one cannot resist though. But I think I'll take my pick and hook down a dusty geophysics manual from the top bookshelf for this one.

From a geological point of view though, I spent time back in the 80s digging up one of these VMS deposits, and they are laterally rapidly variable in mineralogy and grade, eg. the we suddenly lost all the massive chalcopyrite and sphalerite over 100m in the north end of the pit, but lo and behold, the barren-looking pyrite body that remained had 400g/t silver in it. So to me, 14m of VMS-type massive sulphide simply says: "We've got one!" after which this hole, or any hole thereafter could bring anything in terms of grade. It is the exhalative sulphide facies environment and evidence of a metal source that count, and we seem to have both here, plus a bit of gold hanging around in a nearby stockwork. So I like it, as do Sandfire and Talisman.

Incidentally, I also spent a few years hunting and mining epithermals, up in SE Asia, which can indeed render you unemployable, in all sorts of unexpected ways, unexpectedly dead for instance. It leaves one pretty nonchalant about any lesser difficulties.

But enough of boring geology.

Mind you, there is quite a bullish article on this discovery in today's Financial Review, re the positive implications for Sandfire. The author appeared to be taking it as a given that this is indeed Sandfire's first VMS discovery since DeGrussa. Presumably he spoke to them.

My take on Sandfire's reticence is that they are simply being professional and doing things properly. They want to keep the speculation to a minimum until they know what they have actually got. There is no value for them in feeding a speculative market frenzy. That would simply risk having over-promised and under-delivered, and making fools of themselves. Far better just keep it understated.

So I just think that they have given the bare minimum necessary for ASX compliance: the demonstrably share-sensitive information that they have hit 14 metres of VMS-type massive sulphide, and have seen copper sulphides within it, and left it at that.

OK, back to solitary for me. I hope they've changed those bed sheets.

With regards,

Onceover