ROCK or BUST

Just flicked through a recent article in the Adelaide Advertiser, October 21, 2017.

A few interesting quotes from our esteemed CEO, exploration director and geologist, Mr Lindsay Owler

1. “What we want to do is not only to discover a huge deposit for ourselves but also to fill in the blank in (Mineral Resources and Energy Minister Tom Koutsantonis’s) vision for copper production in SA.’’
That vision is to triple SA’s annual copper production to one-million tonnes within the next two decades.
Mr Owler says this vision needs another large discovery to turn the eyes of the investing world to SA.

CONCLUSION: SA Government wants this drilling to go ahead! And wow, did not know Tom Koutsantonis was a visionary! But hey, credit where credit's due! Perhaps a bit of pressure on Minister of Aboriginal Affairs - to make a positive announcement sooner rather than later!

2. Once final approvals are granted, Mr Owler says the company is ready to drill.
“We have a queue of people who will provide all of the funds for drilling,’’ he says.
“We’re very confident of our ability to fund a very aggressive drilling program.

CONCLUSION: ARE very confident on the funding! Wonder who is in the "queue" and how big the "queue" is! Obviously, no need to worry about recent ASX query on ARE's financial position. Share dilution will be inevitable, but hey, not really an issue if the discovery is made!

3. "It’s accepted wisdom that mineral deposits tend to exist in a continuum — where one large deposit exists, there should be more."
"But the size of the Olympic Dam ore body dwarfs by a phenomenal margin the size of other copper and gold mines such as Prominent Hill and the Carrapateena mine now being built."
"The theory is that there must be some other elephants out there — but that South Australia’s deep layer of rock which overlays deposits such as Carrapateena, has hidden them from us until now."

CONCLUSION: Elephants? Seriously! I thought only camels roamed the SA desert!

4. "We’re not heading out there to drill two, three, four or five holes. In the spirit of the Roxby Downs drilling in ‘77, we have to be armed with enough funds for a single drilling campaign that gets us the discovery."
“We know what we need to do. We need to buckle down for a program of about 18 months, with two drill rigs drilling into this and it’s going to be the sort of adventurous and exciting drilling that we saw out of Western Mining in ’76-’77.
“They had to make their own drill rigs to drill through all this cover. And they did that. And we’re heading down a similar route.’’

CONCLUSION: Gonna make for one helluva ride!!!!!!! (hey folks, cancel all holidays and stay tuned for all ASX announcements over this next year and a half).

It’s gonna be ROCK or BUST! (AC-DC 2014 - "in rock we trust, it's rock or bust")