Ann: Second Cannon Gold Mine Profit Share Received, page-6

GRC009

6,590,440

381,880

355

8m at 0.72g/t Au

98

-60

52

HMRC0080

6,560,715

370,359

323

7m at 0.81g/t Au

1

-60

248

HMRC0082

6,560,702

370,381

323

18m at 0.51g/t Au

4

-60

248

HMRC0084

6,560,684

370,388

322

14m at 0.71g/t Au

2

-60

248

HMRC0085

6,560,676

370,370

323

18m at 0.56g/t Au

0

-60

248

HMRC0086

6,560,672

370,388

323

6m at 1.10g/t Au

19

-60

248

HMRC0088

6,560,645

370,426

321

4m at 1.44g/t Au

18

-60

248

HMRC0090

6,560,610

370,446

322

23m at 2.20g/t Au

18

-60

248

HMRC0091

6,560,595

370,463

321

15m at 0.96g/t Au

21

-60

248

HMST021

6,560,576

370,022

325

4m at 1.16g/t Au

40

-60

68

HMST022

6,560,586

370,045

325

8m at 0.45g/t Au

28

-60

68

These drilling results are taken from MLX's Quarterly Report/ George'Reward.

Besides 23m at 2.2 g/t, nothing exactly jumps out of the page. It will be interesting to get the SAU interpretation on these results. My guess is it makes GR/Canon UG is far less likely unless better drilling hits are to follow. I'm not saying there's no chance (especially longer term). Just doesn't look like a near term probability at this stage.
If UG mine is not on the table, then a takeover is not likely at all. IMO this could be, counterintuitively, a bullish SP sign in the near term. My reasoning is that a takeover wasn't factored into the SP anyway. The computer driven cap on SP (that I've found to be evident previously) is no longer necessary. OK - lots of speculation in this - this is what I think though.
Thankfully, SAU is no one trick pony. So many reasons to be excited. UG at Canon seems, realistically, a longer term project than we anticipated earlier last year. So much has happened since then. GLTA.