Ann: Voluntary Suspension, page-9

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hutchdisco

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27/11/19

10:32

Post #: 41654974
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Originally posted by Scarpa ↑

Just be mindful they are doing 2000 metres drilling at 40 metres to 50 metres max depth. Results generally to 30 metres would be weathered anyway IMO. At 50 metre depth looking at 40 drills.

The question is did all drills made the intended target of 50 metres before 'refusal', given I suspect they are not using the best drills btw. I went back to the Ann - they are doing some form of RC drilling, so noting RC drills can go quite deep suspect they are not using the mid to top end of RC drilling type capability IMO as well (which helps cost, noting the number of holes drilled in such a short timeframe and movement of the drill rig itself).

I suspect they are looking for shallow deposits or mineralisation intercept before putting in place a more costlier exploration program, but the problem with drilling at low depth is most mineralisation hits, if they are there are not perfectly horizontal layering (i.e. mineralisation slopes in these types of rock structures holding nickel-cobalt-scandium which is what they are exploring for here btw) so the geological team is going to have to make some assumptions of what they see the law of the land being for those drills that have hit something, and for example whether the 'deposit' slopes downwards into those areas where the drills may have negligible results to 50 metres.

Alternatively, given the massive dump last week, the results can actually be poor and the geology team might be saying well lets move on to 'Husky'. Don't think it is this as btw.

Not clear until the results are released.

The fact it is taking a week to prepare a report suggests too me the results are quite mixed and interpretation is required here. Will be interesting.

If the results were poor suspect a quick Ann with 'now we move to Husky' comment etc etc etc.

Best to have moderate expectations here btw, but glad at least the are drilling. If I lose my investment here best done by the drill bit than what was happening before here prior to the management changes.

IMO IMO IMO

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100%, would always rather lose it to the drills (an actual risk/reward situation) than to a bunch of snakes in suits playing board games.

Here's hoping no one loses out regardless, it's been a rough 2 years+, hopefully we are rewarded for our patience, or ignorance, but rewarded nonetheless.

VIC Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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Ann: Voluntary Suspension, page-9

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