Ann: Drilling commences at Lady Ilse gold-copper targets, page-254

Just watched the video interview a few more times.


I reckon, as well as a great geo, Peter would also make a great poker player.

Gives nothing away, always sweet all emotion, and always just states the facts in a soft, calm, controlled manner.


Best example is the question around cash:

Interviewer: How's the cash looking Peter?

Peter:
- very well funded at this stage
- very comfortable with where we're at
- we're looking at over $7M roughly in the bank at the moment

An MD of another Company might/would have said:
- have cash coming out of our backside
- won't need to raise for another 3 years
- should be enough for a discovery or two



Anyway, he's not giving anything away on Lady Ilse.

Also, sounds like, now that they've completed the 3D work on the historical super high-grade gold mines/extensions, they'll drill it very soon, and sounds like it might be the next cab off the rank (ie. drilling in the next, say couple of weeks, if I'm going to guesstimate off Peter's comments per below?).


Peter:
- we'll look to act fairly quickly on these Bodangora high-grade opportunities
- get some key holes done in the near future
- we're basically prioritising some of those
- after the 3D work that we've done, we've really upgraded the potential in that area
- they'll get tested fairly soon
- AND THEN multiple other targets that are at various stages in the pipeline for us


So, super high-grade historical mine extension drilling, AND THEN, multiple other targets (ie. first the historical mine drilling, then one of the other targets and then another, etc.).


How much are super high-grade results, which extend historical mines that produced gold 100-150 years ago at the average grade of 26g/t gold, worth - in Australia too and not in a third-world country desert or jungle!

$20M EV (with $7M cash) by itself?


Cheers,

GB.