Ann: Rugby Limited initiates drilling at Great No, page-19

It looks like a fair bit of the cash from the previous JV went into analysis of previous results and modelling of the likely deposits at two of the prospects. That work should certainly inform the best likely return for future drilling that will both enhance the JORC resource estimation and hopefully find a good extent of high grade ore at depth. My money would be on evaluating the actual cut-off depth of the deposits that have high grades at their current greatest depths.

It would be good to get some indication from DEG about where they thought a reasonable cut-off would be regarding grades/volume of ore and depth or ore before it started to become an economic prospect to mine. I have no idea if the current volumes are close to the mark or well short of it. Would doubling the current resource be a significant milestone, or would you need to say double it but with a higher grade of ore? Anyone have any thoughts on that?

Still with the JV at the Great Northern Project drilling away happily I can't see the SP languishing at the current price for long. Especially if some good intercepts are reported from this current round.