Thanks Q and NZ. It is rather sad that they could have commenced...

Thanks Q and NZ.

It is rather sad that they could have commenced the current programme 8 months ago, when they had about twice the cash remaining. They reported last October: "The deeper drilling at Schlangental has confirmed significant mineralisation in the prospect area" so they had started to look on trend in the valley.

It's easy to be wise after the event but are they much more advanced in their understanding of the mineralisation now than they were before Tim's resignation last November?

I note that there is no mention of the Initial Exploration Target: "5-10 million Tonnes @ 1-3% Copper & 10-30 gpt Silver", which would have triggered the issue of further consideration shares: 25m for 1mt@2% + 5m if the inferred JORC equalled or exceeded 5mt@3% (or 150kt of Cu content). Perhaps they are now able to work for the benefit of the Company rather than for the benefit of the vendor of the tenement (release 10/05/12). He'll get his shares but the pilots should fly this craft, not the Purser. AIMO, of course.