PSL 0.00% 1.2¢ paterson resources ltd

Ann: Trading Halt, page-37

  1. 26,994 Posts.
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    "An RC drilling program at Lloyds has been planned over the previous quarter for completion this later quarter. Details are currently being finalised and drilling will commence in late Q3, 2018. The program will look to build on the promising results of the 2017 drilling programs by testing extensions of mineralisation at depth and down strike"

    "As outlined above, the Company has made the strategic decision to focus efforts on the Lloyd’s project in the last quarter. The Environmental Impact Statement (EIS) for the Lloyd’s Copper Mine has progressed following a continued review of data from the Lloyd’s site. Gaining approval of the EIS at Lloyd’s remains a priority with the Company ultimately aiming to obtain a mining license for the Lloyd’s site. Upon conducting a fresh review during the quarter rin conjunction with consultants, the EIS was found to be in a much lesser state than the Company had previously anticipated. Much of the work previously conducted is now outdated, incomplete and in need of revision. These findings during the quarter resulted in further consultant hours and therefore unexpected additional costs added to exploration activities. Hardey’s strategic decision to shift its focus back to Burraga, making it the Company’s secondary focus behind the new Vanadium Projects, comes as the copper price remains strong and the Company looks to establish itself as a significant player in the battery minerals sector"

    well, for mine, the purchase of vanadium assets/ come vendor overhang, has created a 0.1c entry ops at 10m mc. (0.4c)
    If the timing is good for the copper drills, imo great timing on entries for new comers like myself.

    The question should be, what is HDY worth, when they can promote this 11m capex to 75m net cash flow after tax gem ?
 
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