LO's announcement begins with...
Drilling at the Torrens Project in South Australia has been stopped following the completion of the second drill hole, TD10.
He continues...
Information provided to Argonaut’s subsidiary, Kelaray Pty Ltd, by Straits regarding possible demobilisation does not include a proposed date for recommencement of drilling or details of future drill funding.
Further down he states...
Kelaray has sought advice... [implying possible legal action]
Overall LO's announcement gives the strong impression, on cursory reading, the Torrens JV is ceasing its exploration program... using language such as "curtailment", "stopping" and implying ARE will be seeking legal recourse. Result, naturally enough, SH's dump.
AIS is the manager of the project and the announcement they have delivered to the market does not support OL's statements and clearly indicates the exploration is continuing.
Ann: TORRENS EXPLORATION PROJECT - DRILLING UPDATE, page-24
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