AVZ avz minerals limited

I personally appreciate this type of research, but the...

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    I personally appreciate this type of research, but the implications are not quite as severe you're trying to make out. The initial drill campaign took about 3 months to complete, after mobilising the first rig was delayed due to weather conditions. They also ran out of drill rods early on, presumably because they weren't expecting the pegmatites to continue to such great depth.

    Based on previous announcements:

    Mar 21 - Drilling commenced
    Apr 6 - Hole 1 complete to 141.5m
    May 18 - 610.7m drilled in total - Hole 1 to 141.5m, Hole 2 to 301.2m, Holes 3-4 in progress. Second rig mobilised, drilling expected to be complete early Q3
    Jun 30 - Initial 1,734m drill campaign completed

    Despite the delay, AVZ mobilised the first drill rig in March, which is traditionally wetter than October/November, according to the weather data above. An extensive drilling campaign implies more rigs this time around, and once they've arrived on site, there should be little issue continuing to drill through the wet season. I won't be surprised to see some delays in December, but I would expect AVZ to have made allowance for this.

    Once news and assay results begin flowing again, the SP will hopefully experience its next significant re-rating. All of course assuming the company isn't taken over before then.
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