@Budor I did get a chance to speak with Andrew Stewart on Wednesday. Unfortunately I didn't get a lot of extra detail other than what was in that recent Sydney mining club presentation - he seemed very friendly and open, but didn't volunteer much.
I asked him how they planned to handle the growing scale and queried the current number of rigs. He confirmed that still have 3 rigs currently, but Andrew had put in a budget for extra rigs to the Board for approval. He thought potentially they will scale up to 5 rigs, and didn't know where that MiningNews article got "up to 8 rigs" from. Repeated the statement in the Sydney mining presentation that over the next 6 months they'd like to put several drill holes into each of the 19 targets at Kharmagtai so they had a better idea of what they are dealing with.
He made the comment that the initial result from Golden Eagle had more gold that they expected, pointing to the hotter core and it being more likely a gold rather than copper target. He'd like to get some holes into the sides of it and see what the copper is like on the fringes.
resource update: I asked when a new resource update was coming and he said "when we stop hitting mineralisation". I remarked that would hopefully be some time off (in a good way) and he told me that he was a believer in putting out resource updates at defined stages such as PEA etc, rather than using repeated updates as a way of driving the share price like some other companies.
I bought a few more at 27c yesterday...
XAM Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
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