Ann: New High Grade Copper Zone confirmed on Main, page-11

re: Ann: New High Grade Copper Zone confirmed... Agree with What A Gas. I can't see a commercial operation on the results to date. People can say that it is open, but the down plunge component has been carefully targeted to intercept it. Going forward holes drilled along the margins now pose a great risk to shareholders because if they start hitting low or no copper you will see shareholders desert this stock as quick as possible.

Given the grades, the width of mineralisation, the extent of these veins which appear very limited and the depth to mine demonstrates that this moment that it can't be a commercial operation. People can debate that more drilling needs to be done - even so if you were to extent the dimensions you still end up with a smallish deposit.

I can only assume that management want to prolong the story as long as possible. You would then assume that a large capital raising would be required, and more so. Costs to drill a hole is around $200/m all up so you don't get too many metres for the odd $5 or $6 million in the bank.

This management have a history of talking up the potential. However I would assume that it would be better now to explore for near surface mineralisation rather than to drill those very deep holes. It wasn't that long ago that they were talking about the potential strike length and not a thing as been done to test this concept.

Tread this stock with caution.