re: Ann: NAD To Drill Test Extension To Lance... Hi All
Today's announcement suggest they did not find any macro-diamonds.
Representative samples from "selected holes (suggest some holes have no indictor mineral/microdiamond)" are being sent to the Company’s laboratory in Perth for indicator mineral and microdiamond analysis (at best, finding only indictor mineral & microdiamond).
Further drillings also suggest they are still searching !
Announcement is not good as they need to spend more monies in their quest to identify kimberlite pipelines - maybe exhausting their cash resources soon
Cash on hand was $1.8M @ 30 Sept 09 - not much left - may need another SPP soon !!!
One last thing - 50 meter drill depth to me is too shallow as diamonds are usually found in deeper areas due to its old volcanic soil nature
DYOR - IMO
AoA
NAD Price at posting:
$1.16 Sentiment: None Disclosure: Held
