quarterly announcement - thoughts ?, page-3

just got to read it -
will still have a large amount of cash in the bank after the results which is a good sign.
The main point to really note is that while they do not have the results as such they would have an idea from the drilling. So i can not see why they would fast track expensive drilling rigs and people unless they are finding some good looking results. I can only see this as a good news story with plenty of results coming in over the current period. Based on this Ill be buying on weakness, subject to general market conditions.



"To date, 27 drill holes have been completed with some of the initial holes intersecting broad intersections of copper mineralisation comprising chalcocite and chalcopyrite. The extent of identified widths and grade will not be known until analysis of the drill samples can be completed at an independent assay laboratory in Ulaanbaatar.
As a result of the positive indications from the initial drilling, the Company has expanded the planned RC drilling programme and fast tracked the arrival of two diamond core drill rigs to site to test high order anomalies identified in the recent geophysical and geological mapping programmes.
This includes the identification of a series of quartz tourmaline breccias that contain copper oxide minerals, mainly malachite and azurite and which occur within a leached alteration zone that extends for over four kilometres of strike and is coincident with a low magnetic response and the northern edge of the more extensive gradient IP anomaly previously identified (Figure 2).
Both diamond rigs are expected to be on site and drilling by the end of July."