Ann: New Kalkaroo Development Options Being Pursued, page-2

There are a few things I don't like in this announcement:

* PFS is in "Draft" and therefore won't be released.
* I don't expect HAV will finalise the Draft, but rather go back and revise the PFS to include cobalt and improve gold recoveries and say they will do this by the end of 2018 (therefore, we get no idea of the PFS value for another six months).
* In the second last paragraph they are talking about the "good potential for discovery of additional resources" with additional drilling.

This last comment worries me. Last time they put the for sale sign up on Kalkaroo they good offers that were multiples of the market cap (my recollection is that is what their announcement said) but they put that on hold to do some more drilling and then everything got mothballed for six or so years.

If now is the right time in the copper cycle, put the for sale sign up, get what you can by way of cash. Take a royalty of future production or additional resources above that currently defined. Use the cash NOW to further develop Muturoo (so we don't miss the boat on the Cobalt cycle) and explore Jupiter (as everyone seems way more excited about Jupiter than further drilling on Kalkaroo).

On the plus side, at least management did get this announcement out on a timely basis.