2. The Drilling Program is Make-or-Break (Based on My Estimates)
The next drilling program is pivotal but comes with challenges. While my estimates are derived from previous campaigns, the tough terrain, unpredictable weather, potential equipment breakdowns, and the inexperience of Timor-Leste crews could slow operations significantly.
- Scope: I estimate an initial program of 85 holes at Samalari ($7000 per hole), targeting the 85,000 sqm strike zone. Costs could reach approximately $600,000 AUD for Samalari alone.
- Drill Rates: RC drills typically achieve 10 meters/hour, potentially allowing 180 holes over three months under ideal conditions. However, delays in tough terrain are likely.
- Depth Potential: Some holes may extend to 100 meters plus if mineralization is encountered, increasing costs and complexity.
It’s crucial to manage expectations and understand that this program must be executed with precision to validate the project’s potential.
Note: please don't crucify me for my estimations before the program is released, they are just that, estimations
3. Confidence in Permitting
Daws’ local connections in Timor-Leste provide a distinct advantage. I remain confident that permits submitted through his network will move faster than comparable processes in Australia, reducing potential bureaucratic delays. Seamless permitting is essential for operations to commence as planned by late March.
4. Logistics and Infrastructure Are Key
I’m encouraged by the sourcing of drills, the buildup of experienced crews, and the infrastructure being established to support this program. However, challenges such as remote operations, equipment maintenance, and limited access to spare parts could cause delays.
- Success here will reflect management’s foresight and ability to adapt to unforeseen hurdles.
5. Wet Season Realities and Preparation
The wet season presents operational limitations but also a crucial window for planning. Conditions in Timor-Leste include:
- January: 222mm rainfall, 25.4°C, 80% humidity
- February: 252mm rainfall, 25.3°C, 81% humidity
- March: 240mm rainfall, 25.2°C, 82% humidity
Drilling in this environment would be challenging, making it an ideal time to focus on preparation rather than execution.
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