I'm actually with
@TemptingTrade. This annt is pure fluff and par for the course for LO.
I'll state at the outset that I'm no geologist, but I'm getting fed up with these types of annt put out by LO and not giving us any real meat to get a feel for where LO intends to take us. And this has come about due to the results/non completion of drilling programs over the past couple of years...and then the prerequisite period of no news/activity, all on a $600k + salary...
From this current annt, I mean, from a couple of soil samples, he's now suggesting 'there's potential to significantly expand the currently defined exploration target of 580Kt to 1.15mt' - really? As I said I'm no geologist, but I am a realist and that claim sounds kinda fanciful, at this very early stage. At least the next 'minimalist' drill program is based on real soil samples, rather than the AI generated targets LO has preferred at Higginsville (where'd that go?) and now also Murdie (haven't heard anymore about that since the failed drill program earlier).
Also, given that he claims they've taken over 15,000 soil samples since 2011 why hasn't this 'exciting' anomaly been picked up before - Isn't it only 400-500m from Nyungu Central? And we've had 10 years to progress it.
And then to state that the current drilling program is being 'jointly managed' by AMC (on site) and ARE staff back in Adelaide - is that just to justify the high priced salary (don't get me started on that!!)? Not sure there would be too much efficient managing being done back in Adelaide - but then, I may be wrong and it's only a minor point but hardly worth mentioning in the annt!
And finally to end my rant.... Drilling has been going on since late July for only 1700m. Apparently they have an XRF machine on site to lay claim for the 'potential of Nyungu East - which apparently is higher in intensity than the Nyungu Central soil anomaly', but they're not inclined to provide a 'guesstimate reading' on the drilling done to date?? Why is that? - it's the sort of thing that IF the drills had hit something LO would be spruiking about it... JMT and very frustrated at the perceived lack of energy and progress on a number of fronts.
J22
