Yea exactly soil sampling only, length of time to release results, 500 samples in however long (previous companies I have worked for up to 500 samples a day let alone 6 months) and totally lack luster assays. When there is no evidence of potential mineral deposits you take your time using as low a budget as possible, it's a geologist or 2 with a few fieldies driving around taking 10 samples a day saying to themselves this job is meaningless but it's a good break from other more intense exploration sites so you take advantage of it while you can. The yearly budget is low so you keep doing soil sampling because it's cheaper than rigs, you release your meager results every quarterly to let management and shareholders know you are doing something (the bare minimum). Hopefully you get another 3 years of cruise control until the money runs out, you get your redundancy and then move onto another site where you could be busting your balls with RC sampling pumping out 100s of bags a day. So enjoy your easy contract while it lasts. I'm not necessarily saying that is what is happening here, but it is a common way to operate a junior exploration company, I've experienced it, some companies aren't too phased if they find anything they just want to ensure everyone has employment for as long as possible, striking mineralised zones is a bonus.
EFE Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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