Ann: Resources Rising Stars Conference Investor Presentation, page-7

Hmmm... yes, the world outlook for Copper is great, but what are the odds that GTE actually has some? From this morning's announcement:



I tried to find the original drill results from RIO but came up with nothing, so I'm interpreting from the wording given above. It would seem that Rio drilled here looking for the conductor and stopped when they hit black shale (which is a conductor). Don't you think it's significant that Rio hit black shale at just about the point that GTE's survey indicates the conductor begins? I see two possibilities:

1. Rio's interpretation: They hit black shale where they were expecting to find a conductor and concluded that the black shale was the conductor.
2. GTE's hope: The black shale is a thin layer, too small to show up as a conductor, and the mineralisation will suddenly switch from black shale to copper ore once they're through that pesky black shale.

This is a hail Mary target; a hope against all evidence to the contrary. I would put the odds of this hole turning up anything other than black shale as below betting on 15 black on the roulette wheel.