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This announcement says the legacy data has been processed and...

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squanski

416 Posts.

63

18/02/23

20:49

Post #: 66329232
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Originally posted by eastwest101: ↑

Not quite - it takes a while to reprocess this data and get it all into the geophysical consultant's hands and work through it all, the announcement said it's a reprocessing of existing geophysical data and then a full data and geological review. Going from a storage unit full of old disks/DVD's and maps to something useful in the hands of experts. Nothing to do with the share price or operations on-site until they get to the point where they think they have targets worth testing with a drill rig. The people doing this work aren't the same people as the day-to-day running of the mining fleet and running the mill as efficiently as possible.

If you like running out of orebodies (considering the long process from discovery to production) then don't invest in exploration, but also don't be surprised if the mill goes really quiet one day... the previous owners didn't invest a lot in exploration at Mt Carlton and used it as a cash cow to fund WA mining and exploration activities, can't wait until they are out of ore and then go crazy with 12 drill rigs and expect the state government to approve new mining operations in a matter of days, its a more gradual process from exploration to permitting and resource definition.

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This announcement says the legacy data has been processed and targets identified, so the drilling should be underway fairly soon.

NML Price at posting: 3.4¢ Sentiment: Buy Disclosure: Held
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