WA: I read those posters as saying that the volcanic source of those pipes probably won't be found earlier than 12 months because it seems like it might be a way down at 500m+ As you'd know there are plenty of copper zones in other places that don't hit lodes until 1km+. They've gone fairly cautiously so far but you've got a better read than me on these things and I hope the action does heat up over the next quarter.
I'm really surprised nothing on Allamber but the quarterly was reasonably dismissive so I'm not pinning anything on that. It must be the pressure to get the annual report and the quarterly out that has slowed things up.
Copper must have been found in the new holes if the data is consistent with the model - because that's what the model assumes. Just go back and look at the sketches for anyone not sure. The model also expects the source to be substantially deeper.
Where I am reading between the lines is that they've given a name to what was previously just a drill hole. Why would you bother to do that?? I think I know the answer.
What doesn't seem to have been picked up widely is the view that there is now potential for more pipes to be found hence the extra work you are referring (aerials etc). If a few more pipes like the ones at the gossan are found with reasonable grade they can start digging it up and getting some cashflow.
What clearly makes sense is to me then is to go to SFR and says lets do this together because you've got the team and the equipment and we've got the copper.
I'm not going back over my old notes and Westaussie did some numbers previously but just the pipe and copper at/around the gossan area very close to surface probably has at least $2m-$3m (net CF) in copper in it - continuing at "down plunge" (as the report says they think it will) it's worth even more. Each 5m extension in the pipe could be worth something like another $1m depending on where the price of copper is.
If it gets wider then more again. Food for thought. I'm not expecting an extension like 20m or 30m but when SFR started delivering those it went ballistic.
Find a few more of pipes - looks like they've got at least one - that's starting to add up to a fair amount of copper and they haven't got to the target yet. It's worth noting that copper is down from 6400 per tonne to 5400 per tonne in under a month. It's well due for a bounce back to over 6000.
Hopefully we don't have to wait 12 months to find the source of the pipes.
PS - Someone said something about Phil commenting on a good start to the new year. THX has a sep 30 year end so that would refer to work completed from October to whenever he wrote his introduction.
http://www.*.com.au/companies/news/...ays-pending-from-red-bore-allamber-60415.html
(20min delay)