29 Jan 24 announcement “We are very much excited and looking...

29 Jan 24 announcement

“We are very much excited and looking forward to the next exploration programs on both Cockie Creek and Bottletree, each of which, have the potential to result in significant discoveries. We will also be planning a maiden program on a possible third porphyry, Wyandotte. In the meantime, we aim to provide further information on Cockie Creek from our interpretation of results and also Bottletree as assays are received from the lab.”

8 April 24 announcement

2024 Bottletree drilling program, including the CEI holes, is expected to commence as soon as weather and ground conditions permit.

So, where will the money be coming from to drill all 3 places ie Bottletree, Cockie Creek and Wyandotte?

The 29 january statement about planning a maiden program at Wyandotte surely would not have been gratuitous. It must have been supported by an expectation that the planning would be not an academic exercise. My interpretation of its positioning immediately after 'the next exploration programs on both Cockie Creek and Bottletree' is that planning would be made further drill those 2 sites too.

That interpretation has now been vindicated imo by what was said in the 8 April announcement about Bottletree.

So, they must expect to have the money to do all of those things, eh!

How much is in the can now? If they slowed, or even stopped, drilling for about 3 months as intimated in the Dec 23 Cash Q Report, then there could be about $1.5m available at present. Adding the $300k from the Qld Government would take the total to, say, about $1.8m. That would go a fair way, but nowhere nearly enough, imo, to drilling Bottletree with gusto as well as keeping the show running. Then there is Cockie Creek, then Wyandotte.

Note that there has been no mention of planning on drilling Steam Engine so as to probably increase the gold resource. Maybe doing that would be premature given that the Options Study has not been made public yet, or maybe .................