Quite a comprehensive quarterly report and reads very well IMO, with the key take-outs:
Remains on track to report maiden JORC in September 2012
Early metallurgical results have proven ENCOURAGING
The RC drilling program is planned to RESUME in late July/early August
Commenced a detailed metallurgical program to determine a preliminary flow sheet and product specifications to be used in discussions with potential OFF-TAKE PARTNERS
Preliminary test work has returned results reinforcing the Co's view that the material is UNLIKELY to consume significant energy within the crushing and grinding process
High level study to be undertaken to standards that conform with potential EQUITY and DEBT FINANCIERS' requirements
CASH and investments of $4.116m (last quarter spend was $1.974m).
EIO Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
