Solid quarterly, not much new to report, could have been much better...will probable drive a few more out and result in drifting SP. Peanuts in the tin, wonder how much the early options exercise has raised? We are very dissappointed with progess at Shoemaker - thought drilling would have been well underway instead of reading "Shoemaker Project (GXY 100%) Submissions for iron ore exploration a program of works have been completed and submitted to DoIR and the relevant native title applicants for approval. The planned program includes mapping and detailed surface sampling of exposed hematite iron formation to be followed up by RC drill testing"
Obviously all available dough going into Mount Catlin BFS although not to sure about the need for "detailed surface mapping....followed by RC drilling" when looking for mega tonnage iron orebody - thought you just banged holes under the outcrop every 100m or so. Now need State One to ramp up that SP or when the time comes to fund Mt Catlin, even if funding is secured and included in the BFS......! the NPV should not have decreased, therefore an announcement on offtake/funding should happen soon. patience Rance
GXY Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
