Based on initial assay results for last season, we are already over 3 weeks late. Bear in mind that the turnaround at the lab is far quicker this year.
Geographically, drilling of POZ's Highland Plains project is far more challenging than Fork North and whereas both coys commenced drilling by the end of March, POZ's initial results were released 3 weeks ago.
As a shareholder all I want is timely and consistent reporting. There was a time when we devoted a lot of effort on this thread discussing assay results rather than whinging about the lack of them.
Don't underestimate the significance of Fork North, I've been waiting for this area to be drilled for a very long time. Blended with Railway, the deposit has the capacity to turn itself and many tons of Railway into DSO, which would otherwise require beneficiation. What the end user is after is not only a high quality product but one which is consistent.
If we assume Railway has 100mt DSO and a further 70mt requiring beneficiation and Barry can find 80mt at Fork North, there is a good chance that the Marra Mamba from Railway could be blended with Fork North's Brockman to give us 250mt blended DSO. This is a significant quantity and no doubt would be a much sought after product by an end user.
UMC is in an ideal position since it has both Marra Mamba and Brockman type ores. Let's just hope that the board is capable of unlocking its true value.
UMC Price at posting:
88.0¢ Sentiment: Hold Disclosure: Held
