Further to
@wombat777 's post I took this away from the meeting as well.
Had a great meeting with Avi, Louie and Chris last night in Sydney and it was also nice to meet some other shareholders who attended too. Personally I think it is great that our directors take the time to organise these events to meet and talk to shareholders in various cities, even after they have had a long week on the road.
What comes out of these meetings is how passionate these guys are about the company and its prospects, the amazing assets we hold and their drive to create wealth for all shareholders.
Over the last week Avi and Chris have had over 30 meetings with a number of different companies and they will shortly be doing a road show in Europe as well. While they couldn’t disclose who the companies were they did say that they included big funds, institutions, brokers and top tier mining companies and the meetings were all at high levels within each organisation and well received and not one questioned the grade.
Chris also discussed the drilling and maiden resource to date and how they can and will drill throughout the winter using RC drills (different to the RC drill they purchased) which can go down to deeper depths of 300m (currently JORC is mainly based on drilling to about 100m). Chris told us that is it actually easier to drill in winter as there are winter roads in the area and the rig is put on snow tracks and the snow cover means they don’t have to worry about the uneven ground and large rocks that they encounter in the summer months. Once they get the drilling permits the team is ready and eager to go with priority being on infill drilling targets A & B and also maiden drilling on targets C & D at Oxide Korbel which the IP survey has shown are looking just as promising for mineralisation. Chris also discussed the misconception about lower grade being uneconomical and said that the difference is the very low strip ratio at Estelle of less than 1:1 and said that the Fort Knox mine and Victoria Gold’s new Eagle mine are good comparisons showing how a bulk low grade mine can be very profitable. He also said that he thinks we will see some higher grade hits when they do the infill drilling as well as given the rocks in the area with veins in them its likely that some of the drills will go through these higher grade veins. Chris also sounded very excited about the possibilities at Shoeshine and RPM but obviously they need to get the drills in there too to prove them up.
All in all it was a great meeting and I think all who attended are thankful for the directors time.
(20min delay)