POS 0.00% 0.4¢ poseidon nickel limited

There really isn't any need for guesswork. All you need to do is...

  1. 5,003 Posts.
    lightbulb Created with Sketch. 2244
    There really isn't any need for guesswork. All you need to do is read... and keep track of the odd Twitter feed video.

    Announcement of Thurs 29/04 (released 0625 hrs WST):
    "Poseidon Nickel (ASX: POS) (“Poseidon”, “the Company”) is pleased to announce the successful completion of the 465-metre Golden Swan drill drive and commencement of the 13,000-metre Golden Swan Resource Definition drilling program." (p.1)

    Quarterly Report, released Fri 30/04:
    "...Golden Swan Resource drilling which commenced this week" (p.1).

    Resource drilling commenced sometime between Mon 26/04 and Wed 28/04. They've already been at it for 10-12 days.

    Also, look at the short video clip uploaded to Poseidon's Twitter feed on Friday 30/04 (https://twitter.com/PoseidonNickel/status/1387909688147148801). It contains the same GS resource definition drilling video footage, which visually confirms the timing of events that was announced by the company.

    We will see rolling results throughout the course of the drilling program. The final resource definition won't be announced until some time after the drilling has been completed and the geos have had time to finish compiling and interpreting the results.

    It's a progressive ongoing process. They won't sitting on their asses doing nothing until all the drilling has been completed.

    From your previous posts you seem to be worried about the implied drilling rates, based on the experience with hole PBSD033A (the recent long hole through difficult ground). You should ask your experts what the drilling rate dynamics are for coring shorter holes v. longer holes in the same type of ground (i.e. shot v. long, everything else remaining unchanged). (Hint: shorter holes advance at a quicker rate because there are fewer segment lengths to change-out for every section of 3m core retrieved. The longer the hole gets, the longer each addition 3m section of core takes to retrieve and repeat the process. Different ground conditions obviously have an impact. If the GS/ST ground is better (expected) than the rock encountered when drilling PBSD033A it will further improve the drilling rates.)

    Last edited by zebster: 08/05/21
 
watchlist Created with Sketch. Add POS (ASX) to my watchlist
(20min delay)
Last
0.4¢
Change
0.000(0.00%)
Mkt cap ! $14.85M
Open High Low Value Volume
0.5¢ 0.5¢ 0.4¢ $308 68.78K

Buyers (Bids)

No. Vol. Price($)
94 67484980 0.4¢
 

Sellers (Offers)

Price($) Vol. No.
0.5¢ 16076848 27
View Market Depth
Last trade - 16.10pm 10/07/2024 (20 minute delay) ?
POS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.