re: Ann: Quarterly Report for the period endi...
Yes loyal- I think next quarter will be better assuming no breakdowns.
I would also expect a string of announcements starting anytime fom now because there are so many rigs working on so many fronts.
Here are some of the exciting prospects that could be gamechangers some of them from as early as this week
1 Southern deeps, The unerring accuracy of the predictions for intercept of mineralisation tell me they have this model right.Based on a 700m strike the estimate of SD is 1 to 1.5 mill ounces on its own and it is repeatable.It is open down dip
What happens if they put a drill down (as they must)to 800m and discover the mineralisation is still there and rich.Does the target change to 1.5 to 2mill ounces and that just on Southern deep
In any event once some infill drilling is done and assayed we can start including some of what to me is our best asset in resources.Remember non is in resource at the moment
2 Meanwhile the pit a GR is still open.As we were reminded extension drilling gave us hits such as 17m @over 100grms. Presumably we have been following this and may get a pleasant surprise any time now. We also have several bits very close to the edge which could be used to keep Coyote going if needed.I recall a rich strike only 20 m away.
3 If that is not enough we must be close to hearing from Ripcord again.They were following up on 33 34 and 35 which averaged about 7grams from 6 m.Are going to hear shortly that an even richer set of pickings have been found?Not saying we will but it wouldnt surprise me.Its open along strike and depth
4Coyote-we are profitable again and have at least enoungh until the end of DEc.The underground rigs are very cheap ,but dont go much further than 6 months worth , because they cant go too far.But with new development open we may be able to look in more places.eg we could look around Bommie and add to our reserves.Before the year is out we may be working into more than a years reserves. I guess we will continue to pepper with the occasional deep hole.And so long as it continues to pay most the development exploration and evaluation work we cant go wrong. If it gets to 15k ounceslike loyal suggests then even that last $1m will be funded by Coyote. 5Evaluation reports will be regular To summarise this long winded thought chain -if you like reading exciting announcemnts regularly then stick around this is the place to be over the next year
TAM Price at posting:
61.2¢ Sentiment: Buy Disclosure: Held
