I presume it is being released with the PFS like 90% of M+I...

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KRogers

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23/04/18

21:06

Post #: 32640082
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Originally posted by Hahndoe ↑

This was my post from a while back.

This has probably been discussed on their thread but I went through the announcements for AMN and found something strange. I briefly outline the announcements below:

16/08/16 Drilling commenced to convert 4.3mt indicated to measured and 19.1mt inferred to indicated

4/10/16 Drilling complete. Updated resource Q4 2016

13/01/17 Updated resource expected Q1 2017

04/04/17 No mention in announcement about updated resource. Its disappeared.

26/07/17 Expanded tenements but no mention of drilling yet (this could expand the resource 20%)

So what went wrong with AMN's drilling program? They failed to convert the 19.1mt inferred resource to indicated and the 4.3mt indicated to measured.

That means they are doing a feasibility study on a 4.3mt deposit! Hardly earth shattering!

Maybe RWD had a very good reason to abandon Lake Mackay?

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I presume it is being released with the PFS like 90% of M+I upgrades usually are... the delay is highly coincidentally in line with the PFS delay!

It has been over 3 years since Reward's Scoping Study, RwD has drilled 10% (by number) of the holes as at Lake Mackay, they have sacrificed progress chasing the palaeochannel dream which still hasn't yielded; yet you don't seem concerned that their brine has disappeared... so I doubt it's any different at this much larger lake

AMN Price at posting: 86.0¢ Sentiment: Buy Disclosure: Held
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