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Got a call from the Managing Director, page-24

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142 Posts.

111

02/05/21

09:57

Post #: 52874681
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Originally posted by fooca: ↑

"DRILLING in ARGENTINA is IMMANENT"

Drilling is already a month behind schedule as it was due to commence by the end of March as per announcement release 5th March:
Quote "The Company is significantly progressed and is on track to commence diamond drilling in late March 2021."
From the same announcement:
Quote: "The Company is also currently engaged with the local authorities to enable the finalisation of all required approvals and permits. It is anticipated that final approvals will be granted shortly, to enable mobilisation and commencement of drilling works in accordance with the schedule.
https://hotcopper.com.au/threads/ann-king-tut-maiden-diamond-drilling-program-update.5944507/

Move ahead to the quarterly activity report and nothing has changed other than a non defined scheduled date:
Quote: "The Company is significantly progressed and is on track to commence diamond drilling in early Q2 CY2021, (it is May, already a third of the way into this quarter) In addition to appointing a drilling contractor, the Company also engaged with local authorities to enable the finalisation of all required approvals and permits. It is anticipated that final approvals will be granted shortly, to enable mobilisation and commencement of drilling works in accordance with the schedule."
https://hotcopper.com.au/threads/ann-quarterly-activities-report.6033272/#post-52830833

As the drilling contractor was appointed on the 18th March, it's obvious that there is some hold up to the granting of permits.
Suggesting that drilling is imminent (dictionary defined = about to happen!) is somewhat wishful thinking (IMO) considering the time frame to:
(1) to have the permits actioned
(2) mobilise the drill rig, unless PF1 is paying the drill company to be on standby and ready, then the time frame for the mobilisation of drills will be also dependant on the Conosur's availability.

This is only a small prelim drill campaign (makes sense) but must be tough terrain if it is labour intensive to move the fit for purpose drill around, 8 weeks to drill six holes at an average of 150 metres per hole ......
IMO it will be approximately 3 months from start of drilling to results announced, circa August? (thats if they start now or imminently)

cheers

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LOLLLL WOW so much effort for a NON HOLDER. CAN pick holes at all companies BUT this one DIRECTOR holds $1m worth REGISTER is BRILLIANT

I've SAID ENOUGH in previous posts, now let's wait for things to UNFOLD!

GUESS who wiped on close

PF1 Price at posting: 26.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

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Got a call from the Managing Director, page-24

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