Fair enough summary, jb. I'd describe that as an unadorned...

Fair enough summary, jb. I'd describe that as an unadorned presentation by Luke Cox. Not a lot of detail to talk about at this stage and he didn't bother making more of it than that. Almost as if LC himself is not totally sold on the potential of their Murchison assets.

I think the three pillar description of New Orient (mine), Island (resource definition), and Cuddingwarra (exploration) is a clean and simple message. And I can understand LC being a bit vague or unsure about Island - one gun hole does not make a prospect - until the assays come in for the next 30 holes but I would have liked him to be more expansive about the detail and near-term prospects of the New Orient mine. Also, I think he should have pointed out that Caprice only has 80% beneficial ownership of Cuddingwarra (as per FY24 annual report), though they do hold 100% of the Island tenements, including New Orient.

The gold exploration target they put out in November last year for Island and New Orient combined, at between 200k and 300k ounces at less than 2g/t, is fairly underwhelming and my impression is that LC is a bit nonplussed by the market's reaction to last week's drill results. He actually said in the preso that when he started work for Caprice last year the company's intention was for him to focus on the West Arunta assets but he's been waylaid by the pick up in punter interest in junior gold explorers. Given that "caprice" means a sudden or unpredictable change of attitude or behaviour their swing from West Arunta to Murchison is perhaps true to name. (weird name for a mining company though)

Final point is I thought they should have put out an ASX announcement / updated slide deck to promote that LC was giving a presentation today.