updated presentation on the website, page-10

Well, deep diamond rigs can set you back $2M for a start, so no, its not really feasible to owner-operate. Not with a stubbornly low share price. If the sp got to, say, 50c like all the other IOCGU explorers, maybe you could splash out.

I don't know about you but I'm glad the company is spending the vast majority of its money on drilling. Its the only way you can find something, even if they have to drill 37 of these anomalies to find it.

The IOCG model tends to involve hematite alteration in th contact of an intrusive. But usually these hematite zones are associated with magnetite in some form, so you get large mag anomalies. Croydon...for some reason, you only get the gravity.

I think that the gravity anomaly does represent a deep-seated intrusive. It is probably a highly fractionated S-type granite, and probably devoid of significant magnetite. This would explain the tin-zinc association (the typical tin granite of Qld and NSW being an S-type). Now, the gravity is either hematite, or another dense mneral such as a sulphide. I think there's a good chance it's a sulphide accumulation - maybe pyrite skarns or something similar? It's hard to reconcile a lack of appreciable magnetism with high gravity unless its either pure hematite or pure pyrite.

Should we drill down to find it? Probably, eventually, someone will. Pyrite may be associated with chalcopyrie; and gold-chacopyite could be associated with a hematite accumulation. Or it could be barren - as most are. Consider the majority of explorers in S.A. either don't confirm the gravity anomalies they drill, or if they do it's barren hematite alteration.

I think Ken should get as much information from the rocks as he can, and if these theories fit an IOCG system, then he should fly to Adelaide, talk to Adelaide quities and other people blinded by dollar signs in their eyes re: IOCG's, and say the words.