... More snippets from the Proactive investor ... Segue presentation on Tuesday 14th October ...
It was a most interesting day and extremely worthwhile attending ....
I had previously emailed Steven Michael prior to the meeting ....
Upon arrival had a quick chat to Steven Michael ( CEO of SEG ) who had requested a quick hello as i checked in ...
.. and quite hilariously ... as we chewed the fat ... he called me Philbar !!! ....
.... which is comforting ..... or perhaps maybe somewhat disconcerting that he reads Hotcopper ...
and he said he found Hotcopper a most worthwhile forum for investors ...
( Ive always wondered whether CEOs and Public Officers ever read HC ... well now we know )
.... there were about 80 people in attendance ... mostly blokes in their mid 40's , 50's and sixties ...
... there were a handful there who were slightly lubricated with the 15 minute pre presentation drinks ... obviously the one's never willing to pass up the opportunity for some free reds and beers and canapes ...
The presentation saw 5 small - mid cap companies present 15 - 20 min presentations ...
... Segue was 4th to present ....
... interestingly the second Presentation was from Legend .... also a Fraser Range aspirant ....
... They gave a most interesting presentation on the Geophysical aspects and the Tenement placements of the Fraser range .. and the geological features sought required to actually find the next Sirius Nova - Bollinger type of discovery ...
... As the speaker said ... its all about finding the conductors ... and whilst Legend is well funded ... they are yet to find any conductors .... and they are searching ...
.. the presentation of Legend explained a lot about Aerial and Land electro Magnetic (EM) surveying ... all relatively laborious and time intensive processes .. that cost money ..
... an as a consensus are a fair way off from making any progress of shareholder return soon ...
... but the main reason I mention this about Legend ... is that in Segue is in a totally different ... enviable ... and immediate time frame with regards to prospectivity and potential for nearly immediate shareholder return ...
... SEG has discovered and identified many conductors .... and is drilling into the ground searching for them ... right now .....
The SEG Presentation. Summary
( Ive inserted a few notes gleaned from some discussions and questions with Steven after the presentation )
... SEG has one of the largest Land holdings in the Fraser Range ...
... Have identified a number of conductors through Land EM surveys ..
.... First drilling programme commenced last week .... over 2 target areas...
... they are drilling 5 of the 8 conductors they have identified in the target area ...
... northern area target C1 is the current drilling target ....with a deep diamond hole drill ..
... then C1 , C2 and C3...
... announced last week is the identification of the E28 conductor ( and 2 additional conductors in this area) ..... the drilling campaign of the E28 will follow after the C drilling program ..
( because the area is so remote and the drill rig is there already it is an opportunity to utilise the equipment whilst it is in the area - the drilling rig has come from the SIRIUS site .... )
( and the geologists Newexpo really like the prospects of this target )
The drilling programme is fully funded through this drilling programme.. until mid next year
he assay results for the C1 will be released in November
( unless its the big Nickel laden Core sample we all hope for ... which they'll run the XRF over for some immediate release of discovery results )
SEG owns 100 % of the Plummeridge over most of the ranges as opposed to most of the other companies in the Fraser ranges are which have 30 / 70 % Joint ventures with Mark Creasy ....
The aircore samples recently found magamatic rocks ... with encouraging results ...
Lots of EM going on identifying more key areas ...
E21 ... most excited about C1 ... being a flat lying target ...
( which would be easier to mine / cross cut ( like Bollinger type deposit ) and more likely to be an intrusion ...feature )
The target at C1 is at 600 m with the drilling to be done to 700m ..
... this drilling has approx. 2 weeks to completion ...
... Newexpo have said that this is one of the best conductors they have seen in the Fraser Range ..
E28 has just finished a comprehensive EM program ... and will be drilled on the back of the current drilling program ....
... if drilling is successful the drilling rig will remain in the area for further drilling ...
... SEGs handheld XRF correlation on aircore samples with actual lab results have been quite similar ...
.... question time and chat time questions to follow in next instalment tomorrow morning...
.. good night to all ... off to start dreaming of filthy big black conductor core samples ...
Philbar
SEG Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
(20min delay)