Wertaloona Project, page-7

Yesterday's action was certainly a surprise, and it looks like there is more interest happening today. Yeah - makes you wonder why, and what, and when...

I assume Wertaloona is long dead - it looks like they relinquished the tenements.

The MXR results at Eagles Nest were nice - but not spectacular. Pretty much in line with previous drilling by Ramelius. Maybe a little better. It's still possible they will find a new Wattle Dam there, lol, but I reckon the Golden Orb/Redback prospect would be a better bet. Tychean looked close to declaring a maiden reserve there, early last year, but despite incredibly lean and efficient exploration work, the funds ran out before they could finish the job. Joe H really did run a tight and efficient operation. Joe and the TYK team deserved to succeed.

As the POG goes up, of course, the value of what's in the ground also rises. If the AUD falls back to 70 cents US or lower, and the POG heads up towards $1,250 USD, then the potential of the Redback prospect goes up significantly. Even the Core Farm paleo channel deposits (shallow, so cheap to mine) may become economic. TYK holds a lot of ground with a lot of drilling done by them, and by RMS and ERO before them. Maybe someone is betting that gold which was uneconomic at previous AUD gold prices around $1,550 will be worth the effort at $1,650 and above. however we aren't there yet, and there would need to be strong reason to expect continued high and increasing POG before anyone made them an offer.

Tanami? Maybe. The RMS drilling on their joint project so far has been only vaguely encouraging, but it is a highly prospective and relatively unexplored area. I know the area myself, and I still hold very high hopes that the Tanami exploration will find something good - but it's likely to take a lot of work and time.

The other possibility is that someone engineers a backdoor listing for an entirely different kind of venture, using the TYK shell. Right now that seems more likely to me - but really, only the buye knows why they are buying...

I guess I'll hold, and wait and see...
Best wishes to all!
Cheers
Dave