Ann: Exploration Drilling Update, page-41

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09/08/23

06:22

Post #: 69235009
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Originally posted by That Fundamental Guy: ↑

I think there was much to like intoday's announcement, such as:
Nearer surface ore at a grade that will make a difference to project NPV
Whilst more drilling required, currently have the funds to do so.
Preliminary findings of pilot test work programs encouraging and BG quoted as saying an announcement on that in the next few weeks.

However, what I think I almost liked more was the level of detail given intoday's announcement (and some other recent announcements).

For example, compare:
The two page and a bit page announcement we got on 9 November 2022 for the much awaited process plant flow chart - and that two and a bit pages included diagrams with no appendices or technical information.
- Versus -
Today's drilling update announcement with a 5 page announcement including another 50 odd pages of appendices with things like a drilling history and all the technical data one could ask for to get an understanding of the geology.

From here, I hope that:
management keeps a high level of detail in theirannouncements;
gets that pilot plant test work announcement out "within thenext few weeks";
gives us a clear timeline for further drilling and anyresource announcements; and
confirmation that funds are available to get to aresource level without needing to raise capital.
It would also be great to seesome preliminary economics - but not sure if that would be possible until aresource on the near surface ore.

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Powerful and logical analysis TFG.HIO may get to 30 cents per share by the end of this year.
HIO Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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