From Bridge Street (2) - "However, the higher PFS production...

From Bridge Street (2) - "However, the higher PFS production profile (as well as ASX and ASIC disclosure requirements)has seen the assumed mine life drop to 6.3-8.5 years (from 11 years in the 2015 study). Thishas necessitated a 3000m drill-out of inferred resources to indicated status. Assumingsuccess, this should allow for a significant upgrade to ore reserves. Historically, this has beenthe case"

3000m drilling, unless complex or drilling is sparse, shouldn't take too long. If simple Geology a competent Geologist can log 200-300m a day. Resource drilling itself is probably more along the lines of 1-2 months with 1 month of logging. Remember, the drilling will be specifically looked at for JORC, so anything released will/should be competently logged (which is why it may take a bit longer than usual as they want to be 100% confident) at this stage.

From Bridge Street (2) - "The drilling programme is currently under way, and upgraded resources are likely to bereported during 4Q18. (As well, GPX geologists are completing a geotechnical drillingprogramme, required for the BFS)."

See above, the Geologists are probably logging everything. Wouldn't make sense to drill just for geotech, or drill just for the ore-expansion at this stage. It is very likely they are logging both. Whether or not they do it straight away, will be seen in the announcement.

Given the research report itself even speculates reporting during 4Q18, I would expect announcement release very soon.

Updated valuation - $1.69 given 0.75 fx and no expansion of resource. Yes Castlelake are massive, but unless this goes into production within 2 years (when the US$5m becomes payable), we may be in for some trouble. It really comes down to Tanzanian Government, so I doubt any expansion will cause a shift in the share price until this happens.