The play right now and why we have seen a 50% movement in the share price is because of the speculation that the new drilling could potentially prove larger deposits than the current burmeister deposit.
I would seriously question why the director talks about infill drilling of 100m by 100m at the current deposit for a cost of $1.5 million. He claims it only gives an inferred resource and financial scoping studies can only be released to the market if they include an indicated resource. So what would be the purpose of this drilling and why not spend that little bit extra to get enough indicated resource. Management don’t obviously believe in the deposit yet if only going inferred.
Ann: Investor Presentation - RIU Sydney Resources Roundup, page-20
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