That's a good question! All we can go on is the information in the announcements to date.
They are very active in the search and due diligence process of new projects at present. It appears likely that a lot of the projects they have looked at to date have been gold, together with a couple of base metal & rare earth projects. Whatever happens, I get the feeling they are putting a lot of effort into actively finding a high quality project to acquire or JV in to, so I don't think it will be too far down the track when this actually happens.
In the meantime as they have mentioned, they will now focus on the northern targets at Lake Yindana. If these don't show anything promising, I think they will probably let Lake Yindana go, particularly if they acquire a new high quality project.
Jungar Flats is also a promising project with work continuing to lead up to drilling. Once permits are approved, auger & drilling programs can get underway. Keep in mind that they have acquired additional ground around the original Jungar Flats project, which suggests they think this is a very prospective region for one or discoveries. Time will tell.
While it's disappointing that the two targets initially drilled at Lake Yindana haven't revealed anything promising, that's the nature drilling targets! The company still has high quality targets to continue to explore and drill and is also very actively looking to acquire a high quality project in the near term. That's enough for me to continue to hold for the time being.
E79 Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
