agree. Also, we are long way from getting any indicated resource and bit further away from long way to even think of measured resource.
To get to indicated resource one needs to drill on a 40x40 - 60x60m grids (can't remember exact number) and current holes are hundreds (some of them) of meters away from each other. And for measured resource I think the grid needs to be blow 30x30m. In short very tight grids are needed which means lot of holes.
Positive side is POD is showing incredible consistency in the assays results which gives me more and more confidence things will play out fine.
Metallurgical recoveries are very important and it will trigger real boost or bust once released.
Long way to go before we start digging which is contrary to the claims from the "experts" who argued this is shovel ready project and will be up and running in no time - and were super aggressive and abusive to anyone pointing out the actual facts.
Also, I would not like POD to start scoping study without any indicated resource being drilled. It will be waste of money and time while those money can be spend on the drill-bit to define higher confidence resource. Then proceed to scoping studies and pre-feasibility studies.
Right now drill, drill and drill while working on metallurgy side as this is something that can play huge role in terms of economics.
And yes, there will be some areas that won't be economically minable. It will be truly incredible if all 15km strike is actually mineable. Even 7km strike will be huge success.
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Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $22.48M |
Open | High | Low | Value | Volume |
3.4¢ | 3.5¢ | 3.3¢ | $9.357K | 280.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3823 | 3.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.5¢ | 14864 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3823 | 0.034 |
3 | 124515 | 0.033 |
3 | 385656 | 0.032 |
3 | 869954 | 0.031 |
8 | 1158918 | 0.030 |
Price($) | Vol. | No. |
---|---|---|
0.035 | 14864 | 1 |
0.036 | 543003 | 4 |
0.037 | 27054 | 1 |
0.038 | 197000 | 1 |
0.039 | 120000 | 1 |
Last trade - 14.39pm 17/06/2025 (20 minute delay) ? |
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REDCASTLE RESOURCES LIMITED
Ronald Miller, Non-Executive Director
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