It was perhaps not the best of quarters but the optimist in me...

It was perhaps not the best of quarters but the optimist in me says to isolate the better news, which is the exceedingly prospective ground that is 100% owned by the company and to which a meaningful amount of dollars generated from Gruyere is being poured. It's almost as if there is too much prospectivity taking place (never a bad thing), hence the need to hire geologists specialized in identifying the most promising targets.

Kingston: first diamond hole 1m @ 10.4 g/t from 181.1m
Hirono: 13.7 g/t in a single aircore
Savoie and Beefwood: (15km x 2km) largest coherent gold-in-soils anomaly identified at Yamarna
Gilmour and Gilmour South: 4.0m @ 16.58 from 244.0m and 6.78m @ 5.33 from 229.15m

You can bet this is very much an opening gambit. The SP is not reflecting any of these stellar numbers. There is so much more to come.


Then there is the announcement of a maiden dividend payable some time in March, and the better the metrics - highly anticipated - the greater the sum. In a climate of falling interest rates who could ever say no to fully franked dividends? Many here will be yielding solid numbers and enjoying the rewards. That's what it's all about, while others will reinvest dividends back into the company and the rest ... well, I guess they'll just sulk and labor under the impression that share prices keep going up forever.

The report does not make comment about the company's new facility as it just missed the deadline, and much of it is speculation, though, of course, it does seem as if the board will keep their powder dry, given the concerns about COVID 19 (translation: authoritarian control). That's why I'm in the camp of doing something smaller, but none of us are privy to that kind of information. Or perhaps they are getting ahead of bank lending tightening given the extremely bleak outlook for the economy, all manufactured of course but that's a story for another day.