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3.6¢ st george mining limited

Thank you for sharing OT1961, well done!Helmenesh.

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helmenesh

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21/11/19

17:28

Post #: 41561972
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Originally posted by OT1961: ↑

Just attended the AGM in Perth.

The formal part of the meeting went well with all motions approved in favour of the recommendations.

Some feedback from the discussion after the meeting.

The spike in the SP in September was a caused by a Chinese Entity who bough a 4.9% stake. At this point they do not know who it is however they did top again to after the recent CR.

A picture was shown of the recent core sample which looked very much like solid gold to me. It will appear on the front page of a mining magazine next week.

Dave O'Neil stated thay with the current drill results they could quickly move to resource drilling and define the size of several open pits for mining. The quality of the ore is extremely high grade and easly mined as the ore is encased in granite which would allow for mininal bench cut backs in an open pit.

They are reluctant to state the size of the resource at this time.

Stage one of the Flora and Fauna survey has been completed. It will require a second survey in 12 months time to finalise.

There are no Heritage concerns.

Still only one rig working. They can complete around 80 meters per day so thats a hole a week. News will continue to flow.

Still have around $8M to fund drilling well after christmas break when the second rig will be running.

They are considering taking on a Stategic Investor to fund future work. Several discussions have been had yet nothing finalised.

They are using EM and Squid survey equiment down some of the completed holes and identifying many more targets at depth.

Drilling pressure has been causing the drill to deviate of target. They understand this now and feel they can stay on target. Maybe this hole will hit the target or they have already hit it and waiting for Assay. Will know soon enough were those gold coloured cores came from.

The mood of the Company is very positive.

All the best

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Thank you for sharing OT1961, well done!

Helmenesh.

SGQ Price at posting: 13.5¢ Sentiment: Hold Disclosure: Held
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Thank you for sharing OT1961, well done!Helmenesh.

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Thank you for sharing OT1961, well done!Helmenesh.

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