Wow !
Well - vkhg89 - we were thinking an Announcement yesterday. It came out very late tday - so we were close!
Kind of an odd timing for an Announcement - I didn't see it till after market close, and I guess that's true for most investors.
So how does it look? Ummm.... what I said back on the 12th was:
"Those results, we have been told, will determine whether additional drilling is required before a maiden resource for Redback is calculated and announced. I read that as meaning that they have enough data to declare a resource already - but the latest drilling may indicate a further continuation of the strike. If so, then we may see even more drilling etc. but I guess that would be good news, because the total resource would provably be larger."
And that looks to me like the situation we now face. I think it's good news! There were three possible outcomes:
1. dud results - with minimal gold - which would have restricted any resource to the results already announced. We certainly didn't get that!
2. good results - but with the extent of the strike determined/closed off.
3. good results - but showing a continuation of the strike, and therefore a need for more drilling.
Clearly we got result 3! The results are very good as I read it - and very widespread across both the East and West zones. And the big bonus, as I see it - the strike is still open for the Western zone to the North, and for the Eastern zone to the South. PLUS the now have one strong result indicating high grade gold in the footwall to the South.
So more drilling and yes - that means more waiting - but it has to be good news for us, becauseextension of the strike can have a very big impact on the total resource size.
I'm hoping our technically minded friend Midnight may find the time to use these latest results to update his excellent post of 9 December. Please do read it at this url:
http://hotcopper.com.au/threads/ann...gold-results.2418818/page-13?post_id=14431174
I don't know if this will lift the SP yet - or whether TYK will estimate an intial resource now and update it based on the next drill results, but I am now feeling very very excited about the final result and I'm more than happy to wait.
Very best wishes to all.
Dave
(20min delay)