AAR 9.52% 11.5¢ astral resources nl

Hi Everyone,I guess we all blame the directors for not passing...

  1. 519 Posts.
    Hi Everyone,

    I guess we all blame the directors for not passing on info but if we READ the annual/qrtrly reports we'd find amazing info!!!

    in 22/4/2009 announcement: RC was to be drilled in Feysville after approval of dept of minerals & petroleum.

    in feysville announcement (08/09/2009): Hannas shear zone seems compelling for further testing, aircore drilling to commence over 3000m area & RC to follow.

    in annual report (30/09/2009):

    * - "RC program was completed on Rogan Josh DURING JUNE (it took 1 MONTH only) despite hampering rain"...which means that approvals took around 1 month & RC program of 13 holes (over 1200m) took only 1 month DESPITE HAMPERING RAIN.

    * - aircore program has been completed mid september (aircore program only took 1 week)!

    *- futher RC program is required to assess the mineralisation of the southern bedrock. (AREA is 2000m) (at the date of the annual report RC drilling WAS NOT INITIATED.

    if 13 holes over 1200m took only 1 month DESPITE HAMPERING RAIN, then i would assume 2000m of RC drilling in the current nice weather could take max 2 months!!!

    the problem here is that we DON'T KNOW when did the RC start over that area &/or IF it has started yet or not.

    so the quarterly report coming out before end of OCT should tell us whether the RC program has started or not yet & we can count max 8 weeks for it to finish.

    another important fact that everyone is probably missing is that the GRADES THAT WERE ALREADY FOUND form the RC drilling that has already finished over the 13 holes has grades that are EXTREMELY GOOD & they are ON THE MONEY ALREADY IMO.

    IMO, with or without the shear zone results, on the main body of the Rogan Josh we have VERY HIGH grades of gold of 5.50, 14.00,12.00,5.50 & 8.3g/t. most are at 4m, 6m & 8m. which means in basic language that gold is NOT FAR BELOW, therefore it's easier & cheaper to mine.

    what point should we throw the party & go crazy?? whenever board decides to tell us that they are happy of the whole project & no more areas to be explored within that project area & at the stage that they start counting what we have in terms of tons & see if it is worth it considering the cost.

    assuming the current gold price, I can say we have a 99% chance that it will be worth it!!!

    cheers,




 
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