Yes, I am a substantial holder, although, I notice I slipped out of the Top 20 this year. (By the way, never did get a Christmas card from them).
What I do knowis that they will be drilling 3 holes, not 2. This comes about due to the SA Govt funding some work. Technically, due to the funding, it shpuld really be 4 holes, but I think they were not really ready for the extra holes, and could only book the rig for the three.
From my calculations, we should be less than two weeks from a result for the first hole. It was completed and sent a week or two back.
Due to the mineralisation in the area, I doubt you would visual the core. I remember the last time they had a go, and said it looked 5%, and it was 1%. Normally, as you would know, max. a geo would miss is say 0.5-1%.
I also know some that measured low to mid 1% showed nothing. If they visual gold, well, then I would agree, the SP would have moved.
So, as last year, we will Christmas rich list kids, or paupers.
Now, Eden Energy. This is not my specialty, however, having said that, since TAS ownd 100%, the shareholders must benefit in some way from the float. Personally, I would be real p*ssed if there were no "in specie" happen. As you say, if we have to subscribe, we are paying for something we already own. Off topic, but that is what we did with Telstra, TAB, etc etc.
I really do not know too much about it, and have not really had the time to study it at depth. From my stand point, it is a large positive for the holders, as it goves diversity, just, in the rare event the holes are "dusters".
I have moved jobs recently, and do not get much of a chance to do other things, such as research.
TAS Price at posting:
0.0¢ Sentiment: None Disclosure: Held
