After seeing a post on this thread referencing a TH with both ASX:CNJ and ASX:GSR and, referencing it as hopefully good news for ASX:GAL, left me a bit staggered ! Who is running the JV between the two named companies above, as it appears that the left hand is not talking to the right hand in this 50:50 JV !
I personally see it as a big red flag, not only to the two JV companies but, ASX:GAL as well. The two Ann's by the companies are not co-ordinated, let alone understanding what one is saying.
You see, ASX:CNJ have it correct as below, it is a Resource Estimate, the Guessometer Estimate that is used when you can not come up with a JORC Compliant resource of any of the following, Inferred Resource, Indicated Resource of Measured Resource, but as a Mineral Resource Estimate is acceptable to the JORC Code as a Guessometer Estimate, set by the AIMM (Australian Institute of Mining & Metallurgy). CNJ below .. All of the above 'fair nuff'. But look what ASX:GSR have Announced in their TH Notice below. Mmmmm !
But, ASX:CNJ nor ASX:GSR have ever released a Mineral Resource Estimate, not from my brief research. Please, anyone, if I am wrong, I humbly apologize and stand to be corrected, unconditionally.
A Mineral Resource update, IMO NO, as we, or even better still, I have never seen a Mineral Resource Estimate for this Mt Thirsty 50:50 JV Project.
So what I am seeing, are big red flags waving in my eyes as far as being a formerly optimistic observer to this project.
How on Earth can this project ever reach a JORC Code that, may suggest that it is nothing more than a dream, let alone a Inferred Resource?
I do not believe that the JV named above can be of any benefit SP wise to ASX:GAL, IMO, just the opposite in terms of Economics on such a small scale.
ASX:GAL, well, lets hope for those that have ridden this stock from its High to its Low of today, with more disappointment to come, have heard of the old saying ..... Sell In May & Go Away.
I have been very happy with my trading in ASZ:GAL during those emotional days, buy 20k one day and sell two days later. He a rest, buy another 20k and a couple of sleeps, BANG, opening market price another 15% in 48 hours, just loved it.
As I have previously and openly stated in one of my previous posts on ASX:AGL, I am neither holding or Selling, very Neural, just rely on those who want to Buy my shares to just make me a little money, not my fault ! That is the cold hard fact of trading.
For those still holding ASX:GAL, and from a TA perspective, I see a HUGE GAP down around the 20 cent level, or a bit above. Is it a Breakaway Gap, Continuation Gap or an Exhaustion Gap ??? I am no specialist in Trading For a Living, but, I believe that what Dr Alexander Elder taught me with his book was, Just Understand How a SP Can Be Overwhelmed Through Emotion"".
So best of luck to all remaining holders of the Jimberlana Dyke formation, remembering that there is no "Mother Load"to such Extrusive Formations, just more of the same, no matter where the Dykes & Sills go, the Mantel and the source of it all, spews up a mostly consistent flow.
Best of luck to ALL holders who believe in MD's and their encouragement to SH's, after all, without YOU they dont have a Salary, let alone a Living.
Take Care & Keep Safe, but remember the old saying .... Sell in May & Go Away. Well, I'm not sure about that, but, I have always done that and, my capital is still safe.
Best wishes to ALL in the 2023 EFY P/L Statements or the CGT or CGL with the ATO !!! LOL
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