FM3 firstmac mortgage funding trust no. 4 series 1-2020

I don't think they are worrying about the SP. At this stage, it...

  1. 2,283 Posts.
    lightbulb Created with Sketch. 1792
    I don't think they are worrying about the SP. At this stage, it really means nothing to them. It is essentially monopoly paper money to them until they can sell the assets or develop it themselves and see some ROI through maybe a slightly higher salary or dividends many years down the track. Based on what has evolved this week and further strengthened next week is that we're likely look to sell the asset (or negotiate an acquisition of TSO).

    It has been only 2 weeks. They can't keep moving the rigs all over the place. It'll fck their productivity. Qty & Meters more important at the moment. The widest new step out hole is 102. Drilled right into the core of the Eastern Target. Hopefully it returns something decent.

    Regarding the vein, depends on the orientation of the vein and the consistency of grade. If the overall grade of the vein system is 10g/t + doesn't matter that it is narrow, overall dilution with the surrounding rocks will still equate to a good overall bulk tonnage head grade equivalent. I don't think they'll be including much of Toro Gordo in their resource. We are only funded for a limited number of drills are we need make them all count to maxmise the value return.

    Not enough drills into this area to draw any solid conclusion. We had Hole 74 drill into the edge of where the 2 systems meet and returned fairly wide intercept. Good thing is there there is mineralization and scope to further define this area later. Wished it was bigger & thicker higher grades, but, either way, mission accomplished, we found something there.






    Last edited by Corgi: 05/03/21
 
watchlist Created with Sketch. Add FM3 (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.