I’m personally comfortable and relaxed with progress and the...

I’m personally comfortable and relaxed with progress and the well considered methodical approach. The prospectively and exploration model remain sound IMHO. I do appreciate the frustration though.

These pencil porphyrys are very narrow and have very limited lateral signatures. Over the hill to the east of us, 100m to one side of the highest grade gold porphyry in the world only returned 0.13g/t Au and 0.4% Cu. 200m the other way was a 820m duster. Our multielement approach is sound given the narrow footprint of these porphyrys. One moly hole won’t do it either, they will need a few to vector. I really like the use of RC down to 300m to map a huge epithermal Au system with multiple high grade hits while spending an extra $60 per sample to map the multielement porphyry halos.

Patience is always tested at this time of the year with lab delays extended. I think labs are holding us back. However, yesterday marked 3 months (13 weeks) since hole 31 was drilled - the first hole in the list of holes with pending assays. Surely we are very close to more results.

If you want to see what happens when a company goes nuts with well intended diamond drilling without enough research and data and does not hit a core, take a look at MAG. It spend 10s of millions on multiple aggressive deep diamond hole programs in a highly prospective area, did not hit the core, drained the bank account and got caught out. It was forced to JV with FMG at bargain basement prices and gave up control of its Crown Jewels.

Yes, it gets frustrating and I totally appreciate the sentiment of others. At least we are following all the required JORC protocols to include all these RC Au intercepts across 1km in a resource. If you recall, management have a few performance rights with JORC triggers.

John Holliday et-al won’t agree but the Ridgeway discovery was a complete fluke using an enormous diamond hole budget to pepper the NW deposit trend without the aide of multielement and arguably no geophysical signature. It is a blind deposit and we don’t have the capital base to fund a “deep drill until you hit something approach”. Remember that Peter designed the limited number of diamond holes that discovered the Boda Porphyry and they were not a stab in the dark.

I’m happy for the team to have the necessary data before they pull the trigger. I also think those three diamond holes we drilled early last year were a cautionary tale that this system is huge and a wildcat style high risk exploration approach without enough data has a high risk of failing and playing into the hands of majors. The opportunists are waiting for a low ball JV when we are down on our knees.