CHN first hole hit the sweet spot, founded Julimar. The second hole was a duster. They had better luck since then. Likewise, TLM has drilled two holes with mineralisation, thus they were doing it on the wrong spot. Historically 400 ounces came out of the Lucknow region. It is not like a pimple in the ocean, gold could be in a particular area . Have they asked the locals where it would be likely, like old folk's tales? Have they consulted second opinion? It is not something that could be here today and gone tomorrow. Hermanis has not started off too well as the new Chairman, has he? With $10 millions cash is almost a shell company, fancy selling out at these prices, shareholders might as well give it away.
Ann: Exploration Update - Lucknow Gold Project, page-7
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