maximus overview

supertramp,

re the Maximus quarterly and the board room radio interview....
The interview highlights the good progress of having completed 40 drill holes and 7000m of drilling at canegrass near mt magnet.
Interesting comment that "size was not the issue" now as Kev thinks the drilling has revealed "huge tonnage" and that their focus is on the goal of finding the products that will interest the market (from a sales perspective I presume). He mentions the current aero magnetic survey which is targeting nickel and copper/zinc. This is an added bonus on top of the iron rich magnetite and vanadium resource drilling and metallurgical results he talks about. I think the initial top end estimate of 3 bilion tonnes has the potential to be exceeded and the resource targets currently in the announcements could end up on the low side.
Much hinges on the tonnage as there are a few sceptics out there that have had a field day bagging the potential value of the magnetite tonnage etc at canegrass and have created some negative sentiment which I think is most unfair but I guess that's the nature of those who continually post their pessimistic attacks on Maximus. Time will tell and I look forward to the release of the overview in the next couple of weeks as some of the metallurgical results should tell us what the drilling has revealed ......this overview will be a most welcome balancing of the debate about the forward value of canegrass to maximus shareholders. The current share price basically puts no value on the resource as though it didn't exist.
72m of true width of iron at 34.2% is excellent and his comments that they expect to be able to announce a resource overview in the next couple of weeks is welcomed.
I was also interested to note that they have added a 6th block to drill on the north of the 5th block. I also think the imagery shows a 7th block to the south of block one so the tonnage overview could be conservative depending on how many blocks are included in the initial overview to the market.
In addition to the iron-ore, the brr interview revealed that Dr Kev Wills is expecting to also announce a new resource for adelaide hills as he mentions they have "enough gold there now" to move things forward. He mentions that with the addition of the gold project, just 50km to the north of "Bird in Hand", that they are looking at a 750,000 plus ounces of gold, which he refers to as "quite a substantial resource" potential.The current pre feasibility studies they are in add further potential upside to the share price which is not currently priced in.
The interview also revealed the expectation that the Selheim gold mining operations will be in full scale production in October. The existing resource is probably the only thing that the current market has included in the share price so any good announcement from the current small resource could also see the market cap increase.