Conservative $2-$3 SP EV Val, page-9

While we all sit back and either engage down rampers (Yes I'm guilty) or marvel at the potential based on future earnings of the gold (especially), what will add value over time is announcement after announcement of positive news going forward for months and/or years.

The next piece of great news is coming any day IMHO. It will be some results from the Koting drilling. It appears to be one of those times where Fundamental Analysis  (Koting drilling results) matches up with Technical Analysis (a flag at new 2 year + highs).

'Pure TA' would have a trader buying a break upwards out of the flag, a great announcement about Koting would have people following FA buying, most likely also at a break upwards. The TA speaks for itself, with a clear consolidation at new highs, so let's look at what Koting might deliver...

We know that these results are very close as Dr Cowden mentioned that the geologists were looking at them last week in the Webinar, though he hadn't seen them at that time, so any day now...

Koting has these past announcements showing the deposit with some detail ...
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02174854

The one from 20/11/19 in which the cross sections were mostly indecipherable, but it did announce some great finds like.........
12m at 8.92g/t,
4m at 11.1g/t,
1m at 13.8 g/t.
There were also other interesting shallow gold of just a couple of g/t over a few metres that are in the drilling results from p8 onwards, but not in the write up, like .....
2m at 2.78g/t
3m at 1.97g/t
2m at 2.18g/t
4m at 1.12g/t
3m at 1.35g/t
3m at 1.47g/t
3m at 2.62g/t
12m at 1.43g/t
14m at 1.16g/t
11m at 0.75g/t
15m at 0.80g/t
1m at 5.33g/t
1m at 4.86g/t
2m at 2.76g/t
6m at 2.24g/t
6m at 0.92g/t
There were only 12 holes for a total of 1600m in 2019..
Those results seem pretty good to me for such a small drill program, showing lots of potential, yet in 2018 the other anomalies at Koting were the ones the company was more impressed with, noting the comment below..
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02021342

In this announcement from 12/9/18 the K1 deposit, the one we are expecting drill results from and the only one where there has been prior RC and Diamond drilling is described as...
"Anomaly of K5 is of limited strike extent and probably represents sub-economic mineralisation like that at K1"

Interesting how owning the processing plant and a higher gold price and more drilling makes that comment redundant. The other Koting deposits K2, K3 and K4 were the ones that have great promise for the future, but probably have not been drilled in the current campaign, as we are trying to gain 'fast' tonnes to process in the short term while Morila gets dewatered and the tailings removed, so I'm expecting all Koting results to be from K1.

Back in 2015 ...
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01637637
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01628069

This consisted of a total of 2500m drilling of both AC and RC and both at Viper and Koting. Results from the very limited RC drilling at Koting (K1) included ...
26m at 1.54g/t
17m at 1.21g/t
9m at 2.41g/t
2m at 4.19g/t
Other intersections not highlighted in write-up from p6 onwards ...
12m at 0.74g/t
10m at 1.42g/t
3m at 1.94g/t
3m at 1.38g/t
2m at 2.33g/t
2m at 3.14g/t
That's from a total of 795 metres of drilling at Koting according to page 6, so again a very limited program of drilling. It also means that they had decent gold intercepts in over 10% of all metres drilled, which IMHO is outstanding!!

From early 2015 Air Core drilling ...
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01597427
Best results from 1547m of AC drilling include
4m at 14.05g/t
12m at 5.79g/t
16m at 1.38g/t
50m at 0.90g/t
4m at 4.17g/t

Plus a few others decent intersections for Air Core.

Back in 2014, despite a few good intersections for Koting in the write up, it is hard to find which exact holes were for Koting, as all the holes of the 5000m drill program were for the 'Massigui gold project' without separating how many metres were drilled at the separate deposits of Viper, Koting, Koble and Koura.
Some results for Koting from 2 prior holes include ...
51m at 1.17g/t
There are a few announcements from 2014 about the Massigui gold project, where some limited results for Koting are included.

Sorry about the long post again, but I find if I write it up I tend to research it better for myself.

The real point being that the recent 38 hole program for 5,185 metres (quarterly 29/1/21 p7) is a far greater program than we have ever had at Koting. Plus we have never had clear easy to read descriptions of the mineralisation and it's location along strike. (The announcement on 20/11/19 really was appalling).

I expect the next announcement with Koting results and clear diagrams of where the drilling happened to be a large surprise to the market, with people reading the announcement able to come to their own conclusions about the meaning of the size of that deposit to our plans going forward.
Assuming we get some great drill intersections, just like in the past, then people should start waking up to how easily we will be able to keep good grade tonnes up to the plant until the Morila pit is ready.
Some great grades and intersections should have great meaning and a very positive effect on our share price.
It's one announcement I'm really looking forward to and coming any day now!!