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

Not sure on the additional Rigs B. Might be a rig availability...

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    Not sure on the additional Rigs B. Might be a rig availability matter because we are getting them at a pretty good rate. Zeff stated in interview that he plans to bring on couple more rigs to to drill rest the other district targets. Maybe will bring them on once surface sampling/trenching to delineate new targets are complete.

    Don't think the plan is to define any resource outside of Ternera & Ternera East, but 100% agree, if we had more rigs, we could have cranked a bigger and faster resource. But, if speed is the key, don't know why he isn't mixing it up with some RC drilling (damn, forgot to ask that question in the last interview). I know DD is best for resource model & Also best form of substantiation of resource when prospective buyer wants to audit and check our split cores tongue.png... in summary, on the rigs, no idea man, don't think it'd make much of a difference on the SP at the moment, need more liquidity in the sector for any good strong sustained runs.

    Valuation is massively down and rightly so, they needed to be punished with their results, but the major shareholders still holding. It isn't over yet MDI, won't take much to change things around, but we are now heavily reliant on doing a deal with a third party. I'm disappointed but i understand why they needed to progress with the FS even though they knew it wasn't going to be a positive outcome early this year. The work they have done is not loss, they know where they need to be and what they need to do to make this work, it ain't easy and without being privy to discussions they are having with other parties, makes it even harder. Best to just see what their plan is moving forward.





 
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