HI PETE,There are a number of companies that are drilling all...

HI PETE,

There are a number of companies that are drilling all around the zones that ALY have and have been for some time. Another company is ENT who have had reasonable success.

What I have pointed out is this company has done very little drilling. The new chairman has been with ALY for more than 12 months. He has not got on with the job since taking over.
One of the reasons was the drilling he undertook on his side of Sandfire came up Zilch and shocked the hell out of the company. Also the SP fluctuation of .012 - 019 back to .072 says it all. Yes I can understand how cautious they must be as we can ill afford another similar result.

IMO I would be happy with the results if they were equal to HOR or ENT at least they have a resource and well on the way to building the resource. They are very active and also promoting the company in the same way we are in presentations.

We are only talking and our latest drilling appears to be taking too long for the results. Some speculation occurred recently but again quickly fell below where it started. This company has a history of insiders bailing out well before results are known and this weeks trading which saw a substantial increase in T/O and price fall suggests all is not well. The person was happy to take any price. ( I maybe wrong ) Turnover compared to other companies was small I admit.

As stated in previous post we will need some very good hits to get this past ten cents at current price levels and as you know any ordinary results will see the SP struggle to hold where it is. As there has not been any build up of SP pending results and note there has been a great deal of promoting by the company ( which is good to see ) and an AGM the signs are not good. Being positive is good but at the end of the day it is business and realism that calls the shots and governs the SP.

Also in todays market with so many miners out there drilling and exploring many a good announcement in days gone by would see the SP move. As you may know that is no longer the case and as a result many companies are undervalued and are causing Directors a nightmare as they are forced to raise money at basement prices compared to the real value of their asset.

The biggest failure of so many companies is they are more interested in building up a resource they have a good idea is there, instead of looking at ways of FAST TRACKING it into production. No it is not as easy as it sounds but it should be part of any success a drilling programme may have.

An example of this is to have a test run of a section that appears to have a commercial resource and have it TOLL treated. This might sound radical but this was once done back in the 70`s. It produced many tons of gold at very low costs and saw the SP rise. They had an income and they went on to prove up the resource.