SGQ 0.00% 2.5¢ st george mining limited

Ann: Multiple New EM Conductors at Mt Alexander, page-318

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  1. 1,195 Posts.
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    Yes@jcjp123 and I sincerely hope this is not the case with John Prineas. It is that after 7 or eight years of being very patient and for one who has advocated patience all along, one starts to lose that patience when there is inactivity.

    From what@Kipper01 wrote, even if we intersect some decent massive sulphides that are associated with the deep DHEM anomalies; we will need at least 3 or 4 such intersections dispersed over a relatively wide spacing in the resumption of the drilling programme, in order to move the share price significantly in order to warrant a commensurate capital raising. And, the way I see it, SGQ will need a lot of money to embark on the next ambitious deep drilling programme involving at least 3 to 4 drilling rigs once it is established that the massive sulphide bodies are large and widespread.

    The resumption of drilling 3 or 4 deep holes to establish whether or not there are significant massive sulphides, will take several weeks of drilling. I firmly believe that such bodies will be discovered, but it will take many more holes than the 3 or 4 intersections I referred for the resumption of drilling, in order to embark on a major capital raising. It might be appropriate to consider the possibility of divesting of some more of our holdings with the current party SGQ is free carrying. Or, involve a third major party in a totally new arrangement if results from the resumption of the drilling in the deeps are positive and give us a bit of clout. I'm sure JP has considered such a possibility.

    Cheers,
    Helmenesh.

 
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