Ann: Exploration Manager Receives Discovery Reward, page-4

Ummmmm.....
Wow! I missed that announcement entirely! It came out at 9:45 but just 1 minute later they also lodged a 3b notice. Commsec only shows the latest Ann as a flag unless you ask for detail - so I thought they just issued the 3b.

So. Extremely interesting! It wasn't marked as "Market Sensitive" but I'm finding it very hard to see this as anything less than a BIG hint. They have already said they are very close to announcing a maiden resource at Redback, pending results of the current drill program. Surely there is a bit of field XRF testing going on. I just can't see why they would make this "reward" and "additional incentive" now - when the final drill program is well underway - unless they were fairly certain a decent reserve will be demonstrated.

It's only a reward if they publish a reserve. They have already said that this drill program may be the last one they need to complete in order to establish a maiden resource. It really looks to me as though they are fairly certain.

If so - the only questions are: how big? how cheap to mine? how will they raise the cash to enter production?

For an Announcement that isn't market sensitive, this one has me pretty excited! lol. The lack of SP action will be a combination of "didn't see the Announcement" (like me) and "believe it when I see it" (the resource estimate). Myself - I'm looking forward to January!

Best wishes for the Season to all Tychean holders and watchers.

Dave.