SPQ

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ButtShikan25

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16/09/20

08:32

Post #: 47372274
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Originally posted by eastwest101: ↑

This recent announcement is for 28 RC holes of the 71 that have been drilled, so you would expect at least 1 or maybe 2 more batches of assay results to come back, depending on how frequently they were sending batches of samples to the labs, and how busy the labs are we are talking anywhere from 2-6 weeks. There is no way of predicting exactly when these assays come back, and are released to the market, and unless they are material to the market they will just announce them without warning.

The fact is that the assay results could land anytime in the next 2-6 weeks and you would expect them to have similar grades and thicknesses as the first bunch of assay results, as the mineralisation seems pretty consistent so far. If there is an unusually high grade and/or thick intersection in the next batch of assays then that might get the attention of the market, but the consensus seems to be that either the market has already fully priced in the additional gold results already, or the market is asleep at the wheel. Remember we are talking about a fairly non-visual orebody here and a non-visual RC drilling technique so the actual assay results can surprise on the upside and the downside, its very very unlikely, but visual gold in drill core will move the market as this always has to be announced ASAP.

The next big catalyst could be a new updated resource estimation after all the assays are back, and the new resource model is updated, the new resource will have more tonnes and more ounces and will have more indicated ounces than the existing one.

Its just my observation but at the moment with gold explorers only unexpected high grade exploration drill assay results in "new" discoveries that put sudden rockets under share prices in a single trading session. Announcements of increased resources tonnes and grades often produce more sustainable but modest longer term re ratings in share prices that happen over time frames of weeks/months.

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Thanks for the detailed reply mate

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Thanks for the detailed reply mate

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Thanks for the detailed reply mate

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