Got around to having a look at the prospectus this morning. I...

Got around to having a look at the prospectus this morning. I bought shares in SOC based on the potential at Mt Adrah, so this is of interest to me.

So, the plan for this year appears to be more drilling in the potential open cut part of Hobbs Pipe 1, with 4x HQ diamond holes, including two replacing older RC holes with (possibly) dodgy assays, followed by a resource re-estimate, followed by metallurgical testwork, mine designs etc.

Testing of the remaining potential in the area is limited to a couple of wedges off GHD009 to test Castor, and some non-specific comments about "Additional Local Targets".

In summary, it's (mostly) about trying to put a case for a mine on Hobbs Pipe 1.

Well, time for my 2c. You can fairly easily, with the currently available information, make a judgement about the potential economics of an open cut on Hobbs Pipe 1 - and in my view it's marginal at best. The project needs more discovery, either high grade reef/s, or (preferably) a repetition or two of Pipe 1, preferably with some Cu credits thanks very much. More work on the top of Pipe 1 doesn't interest me very much. I think the potential is still there, but I don't think this is the program to test it in the way I would prefer. I'll keep my $2k.

Would probably sell, but the value has fallen so much I might as well hang on (bought near the top, whoops).