Hook38,Milo drilling will recommence after the NQ wet season...

Hook38,


Milo drilling will recommence after the NQ wet season usually in March, and anticipate waiting 4 weeks for the first round of drilling and 4 weeks for testing (if assay lab demand continues).

But I have a vested interest in pointing this out, because I will be buying more GBZ if some of my dud stocks resurrect themselves. Heads look very good value ATM.

The cap raising provides the opportunity for judicious drilling in some of our other (potentially exciting) tenements (i.e. Malmsbury and Mt Morgan areas -expanded and deeper T2?) may now be possible. Dry regions could be drilled straight away. Might even be time to buy our own drill rig, I see them selling 2nd hand for around the .5M mark.

I don't think that this low volume sell down will affect the cap raising, bigger players have a slightly longer term view than panicked day traders.

Let's be clear that the fundamentals of Milo haven't changed, and the cap raising will permit considerable exploration drilling ...highly unlikely that mineralisation stops exactly at the limit of our last drilling, considering that it is open at depth and length.

Even just a 50% increase in mine size estimation will provide a considerable benefit from the point of economy of scale.

I see no reason why GBZ would drop much further from here, and let's remember that there are other drill results lurking around.

Cheers,



John S.


All IMHO
All GBZOA