Ann: Drilling to Resume at Mt Alexander, page-218

I'm wondering what people are expecting with the drilling of the 33,000 and 14,000 Siemens conductors, in terms of length and grade of sulphides??

I showed in a post several weeks ago how an 89,000 Siemens conductor was not a 'company maker' and other good Siemens conductors were also ordinary. The following is from that post .....

"Over a year ago we hit a 89,000 Siemens target, MAD157, but only had 1 metre of massive sulphides, which I couldn't find any assay results for, despite great photos of the core of that hole in a splashy announcement (23/9/19/).
Eventually I found the results for MAD157, buried on pg 11 of the Dec 19 quarterly (31/1/20)
4.95m @ 1.58% Ni and 0.75% Cu, including 1.03m of MS @ 6.4% Ni and 3.22% Cu.

That is 89,000 Siemens for some non earth shattering results (if it had been 10 metres of MS then great). What do people expect from 33,000 Siemens and 14,000 Siemens? I certainly don't expect better results than the above, and I doubt a 'hit' like MAD157 would move the SP anywhere but down if that was the result of the deep drilling.
MAD144 at 82,000 Siemens was a 2.8metre hit of 1.3% Ni but did have some good copper and PGEs, but again, not a 'hit' that would be positive to the SP if found in deep drilling.

BTW next time they say that they have a 100% record of hitting massive sulphides or something similar, could people remember the following from past drilling, matched up from the 23/9/19 announcement and the 31/1/20 quarterly announcement..
NSI = No Significant Intersection ...

MAD 145 ...20,000 Siemens .... result....NSI
MAD147....30,000 Siemens ......result ...NSI
MAD148...28,000 Siemens ......result ....NSI
MAD149...20,000 Siemens ......result ....NSI"

https://hotcopper.com.au/posts/50624705/single


I'm not bullish about the new drilling campaign because we have been let down too often. It also seems that the company has decided to gamble on good hits before cap raising, which would mean IMHO a very low priced cap raise if they are not successful.

Also on the new batch of samples rushed to Canada for testing, I hope we do get some great results from it, but will a great metallurgical result do much to the share price?? I doubt it because last years metallurgical results from Perth didn't move the SP at all.

A JORC resource is another aspect I'm baffled about. They already have enough drilling results and metallurgical recovery results to come up with one, but are waiting for the Canadian results for the Scoping study and JORC resource estimate, why??
The only conclusion I can come to is that existing results are not yet good enough to have a positive market effect, or any effect (perhaps down being below market expectations?) on the market.

Again I'd like to know people's thinking on what type of good positive drill results people are hoping for that would make the SP rise, given the known Siemens readings and past results??

BTW I'm one of those that sold some more, on Friday, while keeping a very small interest. Unlike others IMHO I think management here is very ordinary, compared to other junior explorers, despite being paid big dollars, have made too many mistakes (including high remuneration) that continues to cost shareholders in dilution with every cap raise.
It's possible to end up with a good resource, but shareholders making nothing because of dilution along the path to production/take over/whatever.