Response from JB

Got a reply back from JB regarding some questions of missed timelines and reduced drilling program.
“We are working on the resource update. The geological structure and nuggety nature of the deposit requires some detailed modelling that has slowed the process.Re drilling, the aim for the last 2 years has been to get as much drilling as possible into the resource update. We have completed 20,000 metres of drilling at a total approximate cost of approx $8m. The drilling has been very successful with extremely high grade intersections being identified in multiple veins.10,000 metres of drilling requires approx $4m of capital at all in costs including geos, assays, contractors. So $4m at say current $0.03/share would mean another 130m shares issued. The dilution cost would be high and then we would drill more great assay grades into a dead market with no response to the share price.We also need to get the result of the resource estimation work to plan further drilling as efficiently as possible. All this means is we are being careful with our existing cash, currently focusing on following up on brownfields exploration targets to expand the overall resource target. Once we have the resource estimate in hand we will selectively drill to fill in the gaps and expand.”