My apologies, a mistake on those previous numbers as I was focusing on FFX only drilling and missed the drilling campaign at Goulamina.
I will assume that R/C drilling is the cheaper than Diamond?
Also assume water bore drilling would be cheaper and same for diamond geotech drilling?
-- happy to be corrected on any of the data/figures .. .. ..
For simplicity (ball park figures) I will attribute A$125 per metre for all drilling, information collection is for my records of how much was spent on Morila per contractor using limited information/disclosure. Information on frivolous / un co-ordinated spending may be used at a later date, as well as items of non disclosure (IMO) of drilling tenders and the lack of specifics for drill campaigns post July 2021.
Whereas, estimates/approximates were being used for metres drilled versus detailed announcements!
eg: for the period ending 30th June 2021 (Quarterly Activity report), the Company, quote: "Almost 25,000 metres of drilling was completed in the quarter (329 holes for 24,894 metres)......(sic)" but from drilling result announcements there is only 117 holes drilled for 11,220 metres!
As we continually question where all the cash/cash equivalents went, 24,894 metres of drilling @A$125 / metre =
A$3,111,750 for 1 quarter!!!!
Just let that sink in, 1 contractor, 1 quarter .. .. .. .. how many quarters of sustained, high intensity drilling was there?
At one point we had 5 (or was it 7) drill rigs working 24/7.
Another example (using the Company's figures) in the announcement 3rd May 2021 -
"New Satellite Resources see Global Mineral Resources at Morila increase to 2.43 Million Ounces"
Quote "(sic) ............. including over 30,000 metres of Firefinch drilling completed this year (19,000 metres of drilling at n'Tiola, Viper, and Pit 5 and over 11,000 metres on the adjacent Massigui Project, principally Koting)
= 30,000 metres of drilling @A$125 / metre =
A$3,750,000 +
A$3,111,750 (- A$520,875 as there was a cross over into the 2 quarter figure) = a total of **
A$6,430,875 for the first 6 months of drilling in 2021.
it doesn't get any better with the rest of the data .. .. .. ..
@intelseb re: "rumour has it that drilling was awarded to one contractor without letting others bid."
~ initially when I read that comment (from the mine worker) I flipped it off as either sour grapes and/or being vindictive without any merit, I have since changed that opinion and believe it may be warranted. Substantiating it (as it is hearsay) without factual evidence would be problematic but as the comment finished on "where there is smoke, there is fire" could ring true with circumstantial data and/or a lack of any tender processes recorded in Company documents.
(20min delay)