Pad 4 is down 140-150 in one hole and still in oxide mineralisation with diamond core. Mineralisation is visible in cores. Kaskara has apparently 4 holes down to around 120-140 mtres and working their way up the hill. 30 holes expected to be drilled with RC rig at this location.
They Have not drilled into IP anomaly as yet apparently nor into the projected underlying Cu target at Kaskara, I was advised that the projected depth of this is around 250-260 mtres.
They have had Australian driller over there looking at the sites and is preparing recommendations as to types of rigs suitable for the Various sites and they may acquire some small portable rigs though this sounded inconclusive to me, it sounded as though the CEO and the head GEO were averse to the idea. It was suggested that this driller may take up a position in Africa running things.
No indication of dates for pending assay results. I did however run into a few serious investors who appeared unimpressed with lack of information from the Company. I could suggest that part of the objective of this BBY thing may have been be to impress upon the company that information flow is a significant issue.
Perhaps a primary concern is that they are running an exploration project from Australia in Africa and do not seem to have a significant permanent on ground presence by an Australian exploration manager. Appears to be a fly in fly out approach which on the face of it is ineffective in a long term time frame and expensive.
I reckon there are logistical and management problems that are not being addressed quickly enough considering the funds they now have. The exploration process is fragmented and the CEO suggested they were undertaking Geochem and groundwork in other locations in the tenement packages not associated with the known areas.
My opinion is only an opinion BTW. I think SBR is on some very good ground however am not convinced they have it all together implementing the exploration. Time will tell how effective they are and if the flow of information whether good or bad improves. cheers JP
SBR Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
