There are some very good resource definition drill results and some spectacular metallurgical results in this announcement. We have only drilled the shallower part of the resource to date in regards to defining a jorc resource. Historical results have shown although very good grades and widths exist in the shallower part of mineralisation, the best widths and higher grades are in the deeper half of the known mineralisation. It's also great to see these resource definition drill results are at 90 percent of true width. So with the deeper half of the resource drilling yet to be drilled, the best drilling results are yet to come and there is a lot too look forward too.
In this announcement they also say they have started drilling at Butchers Dog, if im reading it correctly. The 170 millisecond time constant conductor could be very exciting. That is the strongest conductor that has ever been discovered to date at Mallee Bull.
Overall I think this was a very impressive announcement with some fantastic results. My only criticism is peel pack way too much in the one announcement, which I believe is too complicated for the average investor to take in all at once and may leave the average investor a little confused. Unless you know the history of mallee bull there announcements would be hard to follow. In my opinion the market wants to be informed regularly. You need to build a story and create interest with regular updates. You could have had atleast 3 announcements if not alot more than 3 just based on the info provided in todays announcement. If you had just 3 you could have anounced the metallurgical results, the resource definition results and the drilling at butchers dog all as different announcements which would build excitement and the shareprice in my opinion. None the less it was a fantastic announcement and there are more stellar results to look forward too.
PEX Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
