re: drill results !! Firstly I think the SMC results are great -but in this insipid market I reckon it is a medium term buy and patience is required. * Only a very small part of the 13.5 klms of vein sets has been drilled. * SMC are still struggling to understand the structures -and with 'boudinage' vein sets always will until you drill it like a swiss cheese. * So millions of dollars of drilling to do yet -but there was a different tone in the report today. When last I spoke with Fehlberg he was a bit despondent -but it is clear now that the other targets besides Explorer are indeed exciting too and not just surface enrichmnent. * 143 was open at depth and down plunge -the moment one of these mothers goes deep -broadens and is rich watch the share price rocket. * Barrick will be enthused -some deep drilling I presume asap on these targets. Remember the discoverers were going to walk away from Pajingo -but one geologist wanted one more hole -and bingo there it was at 250 metres -or so I am told !!
Overall I would say very encouraging - a lot of that ore can be mined inexpensively. Imagine mining 1-2 oz dirt at 20-40 metres -so no matter what else happens there should be a big profitable cash flow in shallow open pit mining to sustain SMC -provided it is free milling and no met problems.
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