Ann: Pepper Delivers 27.01m at 39.15g/t Gold, page-67

Cheers Plough, I had not known that Tropi was a fairly recent discovery. Have there been other major discoveries with the new belt? Other than Trop and Havana?



Slightly off topic, but because I just enjoy re-reading the announcement today, I think it worth pointing out that Pepper has no smearing, it's a bloody awesome set of results for just two holes. I guess the wedge drilling is starting t ramp up.



74 - the rest of the 14 meters average 4g/t.

74W1 - the rest of the 10 meters average 2.85g/t.

Every meter of dirt is going to be very valuable (sure.. some a lot more!).

I can only imagine SL will be quite keen to show off the new No.1 core to future investors.

Oh, and as always, it pays to read the entire document (though as usual, I might have skipped through some sections, as they do seem very very similar to the last 50 or so announcements!)




Finally, in the presentation, SL shied away from providing a more regional image in regards to the Geophysics they are working through in regards to the overall prospectively of the belt...

This is from 2013.... and all the drilling that occurred was air core with a smattering of RC.



I will end with SL mentioning 2m ounces in the current MRE that he hopes to bring into a mine plan. I think that is now my base case for Dalgaranga.
First 5-8 years 200k+ (could be far higher if they mining 75m per year at 4,000 OPVM (i.e... simple math says 300k before recovery) then perhaps another 2-3 at 150k using FP/WW & Sly Fox. I did find it humorous that SL mentioned Bill B. would argue 150m can be done a year, but SL was happy to be more conservative (I mean.... 150m a year 3500 OPVM is 525,000 ounces p.a!!! insane numbers).

Anyway, I do wonder if SL is keen to raise a bit more cash (not that $93m is not a lot, but... he wants to drill... and also, make sure SPR is not in a weak position capital wise to defend itself against corporate action), it will be interesting to see if... it happens, will RMS tip in.. and in fact push a little to get to 19.99% (yep, that is pure speculation on my part).