Ann: Ophara Cobalt-Gold Project - Exploration Update, page-2

So the source is right again literally spot on with the second part of his news. Drilling is to be commenced around 1st week of November. Check out the Announcement summary below in particular the coloured part. That's the 3rd part of the news that was to be confirmed in Early November if the source is right. If it is then $50 mil valuation as mentioned below by fellow poster is a minimum I reckon. Cheers

1. Summary
   Alloy Resources Limited (ASX: AYR, Alloy or the Company) is pleased to advise that interpretation of conductors from its recent VTEM survey at the Ophara Project located 50 kilometres west of Broken Hill in New South Wales has been completed and a drill program designed to test these targets.
   Independent Consulting Geophysicists - Southern Geoscience Consultants (SGC), have completed modelling of ten (10) discrete bedrock EM anomalies of moderate to strong conductance. The larger conductors are between 1,000 and 1,500 metres in strike length and extend to similar down-dip lengths.
   The Conductors are all moderate to shallowly dipping which suggests they are most likely ‘stratabound’ which is similar to the geometry and geology of mineralisation observed by drilling at the Great Goulburn prospect and also at the very large Thackaringa cobalt deposits which contain 50,000 tonnes of Cobalt in a 54.9 million tonne Mineral Resource (refer COB ASX release 5 June 2017).
   The conductance of the targets is much greater than the Thackaringa deposits and the Great Gouburn prospect and drilling is required to explain the source of the targets.
   Five priority conductor targets have been selected for initial drill testing by nine RC drill holes. As depth of weathering in the area is generally 20 to 60 metres, drilling will generally aim to intersect the conductive body at approximately 100 metres depth.
   Drill planning is well advanced with all requisite contracts and approvals being finalised to enable commencement of drilling in approximately two to three weeks.