Options are now out the way, and the overhang seems to have finished, ALY is cashed up so hopefully Hannington can deliver some results after being very slow in getting some announcements out.
The key one for me is the upgrade of Hermes. ALY have done a truckload of drilling in the past two years and delivered some brilliant gold assays at Hermes. On top of this, significant increases to both strike length and width.
With 131,000oz previous JORC + two years of drilling with good results what will this increase to in the upgrade due in Oct? 200,000? 300,000? more?
With near $10m cash currently, this will fund roads and extraction of Wilgeena's 50,000oz which will will, in rough calcs generate around $20m net, enough to fund an extraction operation at Hermes...
Good times ahead IMHO.
And time to prove to us long term shareholders that you can deliver Mike.... RESULTS.
option overhang gone, now some upside?
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