Ann: Enmore 4th drill hole returns 149.5m @ 0.94g/t gold, page-26

I have mixed emotions on the latest news. On one hand I’m very happy that the results show good gold, still haven’t hit the bottom and width is considered large size for an orogenic deposits.

But on the other hand, you look at the numbers and they aren’t as good as hole 1 and 2 and by a factor of half. Chat gpt has given me a lower speculative estimate of 1-1.2 moz from the 1.5-2 moz off the back of results 3. I’m not overly shocked the market is reacting the way it is and probably a reality check for people calling that KNB has the next Hemi.

For me, KNB is a long term play. If you look at average depth of 75m width orogenic deposits, par for Enmore would be 700-800m deep, which would effectively double the Moz of gold. It looks likely to get there as well, as the strongest result was at the bottom.

It’s located in a tremendous area for infrastructure, has multiple other land holdings and one of the best investors in this space holds close to 20% of the company. The people selling right now will feel regretful in the next couple of months.