Summary of CHE: Phase 1 drilling: 4 RC holes drilled with two...

Summary of CHE:
Phase 1 drilling: 4 RC holes drilled with two holes intersecting: CHERC012 and CHERC013
CR of $3.5Mil, partially intended to follow up CHE discovery.
Management restructure in the middle of this: departure of CEO Greenwood was announced a week before the Phase 2 drilling results came in.
Phase 2 drilling: The two follow up diamond tails of initial RC holes CHERC012 and CHERC013 were duds:

The RC drill programme was followed up with two diamond tails in RC holes CHERC012
& CHERC013 aimed at generating further geological data, and again intersected
intrusions displaying typical porphyry-related propylitic alteration, with strong chlorite
and pyrite and variably disseminated chalcopyrite and bornite mineralisation.
Low tenor, but anomolous assay results were returned from the diamond tails on the
RC drill holes, including 20m @ 0.06g/t gold & 0.07% copper from 499m in
CHERD013.

CHE in the Appendix of the latest Investor Presentation.
Spot the sloppy work!!!


Conclusion: of the $3.5M raised to partially follow up CHE, how much was actually spent on CHE? a total of 2 diamond tails......and then CHE went quiet without any info to shareholders as to why.
CHE is placed in the Appendix, again without any explanation.

So why should I believe MD when she announces the the next drilling campaign with a focus on REEs (who on the team has any REE experience?), raises more money, dilutes our holdings and strings us shareholders along again to wait for the BIG one?

Good communications and a level of transparency goes a long way and generates trust. Why did CHE go on the backburner? How much experience do you and your team have in REEs, Janeta?

GLTA