Phenom328 - thanks mate. Well done - I hope you make a killing!...

Phenom328 - thanks mate. Well done - I hope you make a killing! On a risk-weighted basis it looks strongly skewed to the upside to me. Be patient though, just in case it takes a while, especially with market stresses and because successful exploration just takes time. Quoting Warren Buffett:
"No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant.”

XC-22 already looks like a discovery; so close ...
This slide from today's RIU Explorers Conference presentation neatly shows (in YARC27 and YARC 25) extensions of the sulphide zones more than 200m downdip from those in YARC22 ('the rhodium hole'). Assay results are awaited for these extensions.

Even if the assays from those 2 holes aren't as good as we'd like, the results will inform further understanding of the system and help to refine further targetting. We'll get there at some point, IMO. I hope it's sooner rather than later but I'm not going to - through impatience - deny myself a good chance of a decent win by stressing over timelines (which of course are an issue for just about all shares).

If I did and, for example, rhodium was found in the assays for either or both of those holes - or in any of the earlier holes that are now being assayed for rhodium for the first time - I would be pretty disappointed with my decision making. At US$20,500 / oz last night it's currently fetching about 11 times the price of gold, so a bit of it can add tremendous worth to a PGE discovery given that it is recovered in the same process as the other PGEs.



XC-22 is not the only pebble on the beach
My Post #: 61155410 from yesterday was just focussed around XC-22 but that is only one prospect among a decent inventory that's likely to increase as we explore more of our large project area at Yarabrook Hill. More than 50% of our ground has not yet been explored for PGE-Ni-Cu. This slide from the preso. given at RIU Explorers Conference today highlights some of the initially obvious potential but the Prospects shown there will be nowhere near all of them.


Mount Squires Project
With all the excitement at Yarabrook Hill, we haven't yet had a crack at our Mount Squires Project. While it's remote, it has very high potential. Check out the nickel and copper deposits immediately to our east. Some of our team (including CEO Greg Miles) have experienced great success out that way, so they're in a good position to unlock potential here when we get to it. Note that Oz Minerals is our neighbour to the east. Big target territory!



Finally an extract from another slide presented today at RIU (green markings are mine).


Clearly, our corporate position is very strong too:

• MC of $59M (at 79c) as I write this, less say $11M cash = EV of only $48M. Really?
• with Chalice as a cornerstone 9.2% shareholder, and Tinci with 7.5%...
• no cash needed for a long while even with much drilling (and its commensurate newsflow). Nice.
• only ~ 30M shares available outside the T20; that's tight.

Game on at some stage if we keep getting significant hits ...anywhere. A very easy hold now that I've got a good position. Good luck with yours!