You cannot understand Falcon without knowing of the history...

You cannot understand Falcon without knowing of the history Collurabbie.

Collurabbie is far more likely to be the making of Falcon, if anything is, than Saxby. There are already clear indications that a significant resource exists there and what is required is a thorough and detailed mapping of the area and a drilling program that explores that carefully. The BHPB drilling program did not do that and for the last year or so things have just languished.

However that could change. Collurabbie is potentially a large resource and that is what BHPB needs/is looking for. Hopefully BHPB will recognise that and get its skates on.

According to the Falcon reports the EM surveys of Saxby suggest some considerable potential there. However the current drilling program is just a taster. Don't rely too much on getting "the" results this time. There will need to be a lot of work and time/money spent on this one before we can expect a clear picture of the resource if one exists. On the bright side, Anglo is not likely to let go easily and so we can expect a continuing drilling program next year.

In the longer run it is unlikely that Falcon itself will develop either projects if anything is found. Rather one of the major players involved, either on the Falcon share register or which hold the major share of their tenements, will take them out.