Another incredible update illustrating the companies ‘pedal to the metal’ approach here…
They started drilling at Portland 3 ½ months ago… announced 31st March for 1000m… so 113 days since they started a 1000m program. How could they not have finished that ? this is about 9m drilled per day or 4.5m per shift ? what ?
Obviously, something seriously wrong with this. Diamond drilling costs far out weigh these meters per shift rates… but Flynn Gold management seem perfectly happy with progress ???
July update “ we are drilling at Portland”
They started drilling Portland 1 month prior to Trafalgar yet announced Trafalgar assay results within around 6 weeks from start of drilling there. I wonder if they have reverted back to blaming extended delays of assay turn around times on a lab that they are not even using ?
After announcing in January they will commence field activities in the Pilbara in March/ April, then announcing in April it will be May/June, they now announce in late July (pg 15) “ ground exploration commenced” but then add (pg 16) “ground exploration commencing Q3” and in their 2022/23 outlook “exploration to start” … so I wonder if they have actually managed to commence exploration in WA after 13 months of ASX life or they are just still having a think about it ??
Great news is they are still having a think about doing an air core program somewhere in WA at some time during 2023… which will be at least 18 months after listing…
Was going to say it seems like this company is being run by a 1st year geo student but looks more like its being run by a 1st year arts student.
FG1 currently down 52.5% from IPO price on next to no volume other than the main holder propping up the share price. I wonder if management are scratching their heads here wondering why the market is so totally uninterested after such a “positive start” ??? Its a difficult market for junior explorers but difficult becomes impossible when management are so dysfunctional.
I don’t expect any new or enlightening information from this webinar but will listen in and see what they reckon anyway… Im thinking they will be all about how well they are doing and what an exciting time 2022 /2023 will be for the company…
I still think they have high potential ground but with management showing no signs of being able to explore it effectively, their efforts to date have been and continue to be very disappointing
