With final analytical results received for all holes drilled during 2011 the Company is now updating the JORC code complaint resource estimate for the Yukon Base Metal Project. The revised resource estimate will be included into the WELL ADVANCED technical and economic feasibility study into the development of the Yukon Base Metal Project.
If the recent figures released are accurate, the board would have known way back that the project was not economical. Why keep drilling then? To buy more time?
Why would Macquarie, SFW and Paul Noble all increase their stake in the past 6 months? Surely they were not all kept in the dark like us retail mushrooms?
We are already practically at cash backing levels with zero value put on the project. I would be interested to see if any change in substantial holding announcements will come out next week. If the top holders have increased their stake again, its definitely game-on for a takeover.
OVR Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
