Reads that way to me too billc302 but I wouldn't want to be...

Reads that way to me too billc302 but I wouldn't want to be unkind.

Perhaps the million seller does really want to sell the shares and likes easy to remember numbers. As for the supergene, identified in many announcements, I've already stated my position. Just once more with a bit more detail...

The lower grades being announced are consistent with the supergene ore remaining largely unmined. There are several reasons why A1 might choose to delay mining the supergene.

1. Supergene gold comes from fine and colloidal gold dissolving in oxidising, saline, near surface conditions. It washes down to the water table where it is precipitated out by bacterial and chemical action. The amount of gold remains the same but it is moved over time into a smaller volume of rock, hence enrichment.

2. Supergene gold is generally coarser than primary ore and is best gravity concentrated. Normally this equipment would be placed in the underflow from the classifiers (hydro cyclones) taking the output from the ball mills. You would want to have the gold room operational if you were running these devices. Bill Hobba would know exactly what is needed and I think even BWJ acknowledges Bill is a guru when it comes to gold plants.

3. The supergene is wet because of where it forms below the water table. Draining the ground for as long as possible allows it to dry out.

4. Supergene doesn't necessarily stick with the quartz and it can be patchy. It forms wherever the water seeped down to the water table. You need more pit floor sampling to accurately locate it so digging it up is expensive. Delaying the production allows more time to put together the funds to pay for this sampling and thoroughly analyse the results.

As some downrampers have implied or even actually stated, the presence of the supergene can be cast into doubt. Maybe it wasn't ever there. Maybe it was too hard to identify and was sent to the waste dumps. Maybe, maybe, maybe. The company doesn't do itself any favours by not telling us what is going on but the JORC drilling did show supergene enrichment, the company does know approximately where it is and can now measure its location with as much precision as they can afford.

The likely presence of supergene ore is one reason I consider A1 to be oversold atm.

PS If you are a downramper, be sure to thumbs down this post so as few people as possible get to see it. Wouldn't want the share price rising before we had accumulated enough would we? You want to keep it capped so you can make the worst of however much is owed to creditors when the half yearly accounts are published.