I agree with Callan58, not having released drill results for such a long time is odd. In the quarterlies released on 30 July it was mentioned: "in 2020 to date we have drilled over 7,500 m with 25 holes completed". During the year results for only 9 holes were announced, which means 16 holes remain unreported. With 5 rigs drilling one can assume that this is by now well above 20. No matter what they have encountered, this is material information being withheld.
The reason? Let me speculate: with negotiations ongoing on expanding the concession area (by the way, well behind schedule, it was supposed to be complete before end July, earning Mr Bosnjakovic performance shares), maybe ADT does not want to show its hand and raise expectations of the authorities. Just a thought. Could be totally wrong.
No matter what, the withholding of this many borehole results for so long cannot be considered normal course of business.
Initial Kizevak Drill Results Released, page-27
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