I think I've worked out what's driving the SP increase (could be wrong) and it looks like smart investors have put 2+2 together:
On the 18th May Besra CEO Dr Shaw said:
“Expectations are running high as we await the results of the remaining four batches ofholes from our Jugan Prospect’s drilling program and begin drilling at Bekajang, where ourobjectives are two-fold - deeper exploration drilling to investigate the source of geophysicalanomalies located below the existing shallow Resource envelope and upgrading of theResource inventory. The deep geophysical anomalies are similar to those recordedbeneath the adjacent historic high grade open pit Tai Parit mine which produced 700,000ounces at a remarkable 7.6 g/t Au”.
In the annoucement on 29th March titled: Further Outstanding Gold Assays, incl. 47m @ 2.21g/t from surface, at the Bau Gold Project. the company had shown the depth of hole 89 drilled to 234 meters (see image and table below)
The company is also drilled hole 90 to 183.4 meters (89 & 90 are some of the deepest to date) plus a further 7 holes (not sure if they were planned or not - can't see them on the image from this announcement). So I can see how this is potentially going to add a lot of au ounces to the already
In this announcement, Besra CEO Ray Shaw said:
“The second batch of results from our 2021-2022 diamond drilling program, like the first,continue to outshine the historical drilling data and exceed our expectations in terms ofJugan’s overall mineralisation tenor. Combined, these results are positively challengingJugan’s mineralisation’s wire-frame modelling that underpins its current Resourceinventory. Already this program has elevated Jugan for critical evaluation as a potentialshorter term stand-alone development opportunity.”
The company is also assaying a huge amount of core from drill holes 89 & 90 which inadvertantly came out in yesterday's ASX price query response. (See next post) can't insert it here for some reason
Prior to this drilling, Jugan already had a JORC Resource:
The Jugan Project, is located approximately 6 km NE of Bau township (Figure 11). Historical drilling has previously delineated a JORC Resource at Jugan of:
▪ Measured + Indicated Resource of 870,000 Oz at 1.5 g/t Au;
▪ Inferred Resource of 90,000 Oz at 1.6 g/t Au; and
▪ Additional Exploration Target1, 2 of 2.0 – 3.2 Moz at 1.8 – 2.5 g/t Au.
In summary, if assays are good, it looks like Besra will go ahead the feasibily and process to get funding etc to mine Jugan first and kick that off. Only my opinion. But it might explain the Sp rise and the lack of shares for sale. GLTAH.
(20min delay)