Given the above, I think it is reasonable to assume that the first round of drilling results will likely be released around the end of October, start of November. It is apparent that at least two rigs are on-site.
Expected news pipeline in the interim period:
- Monthly production updates September / October, with estimated receipts of $5.5m per month at estimated AISC of $1100 oz
- Annual report due in September, which will announce an understated annual profit when compared against estimated forward earnings
- Announcement regarding debentures - it is anticipated that the debentures would be paid down in full, and possibly a line of credit established. It is likely this announcement will be included in the annual report I suspect
Other potential news items:
- Update on any progress in relation to exploration in Timor-Leste which recently passed law a new mining code in parliament, a code which closely resembles the code currently in place in Western Australia. (Link here: Timorese Parliament approves mining code in general)
- New tenement acquisitions
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