obe wan
Regular
It's definitely a pickle to say the very least, and why you would waste money on drilling is total bullshit to me,but the scary part is the silence out there it seems like we are not privy to a piece of the puzzle with retrospect to mining licence
We can't blame management as of yet because we honestly don't know if this is the DRC and there negligence or if it's ours, unfortunately for us I think old Felix is letting the side down by not taking a firm stance with this bullshit
Before we hang management we really need to let this play out first as I suspect there is something else happening that we know nothing about as per usual
The drilling will take more of the resource to proven on the JORC dial ; this would jamb a healthy multipler factor against the figure if AVZ were made an offer today based on their current Jorc classification levels.My opinion there wasting money, they did this as a knee jerk reaction, what they should be doing is screaming from the roof tops and stop playing Mr nice guy, they have so.much leverage with everyone looking at the DRC as the place to be, the last thing they need is blow back, strike while the iron is hot, fuck the Chinese and bring the DRC to the table forced by world scrutiny
Risky yes, but thet have a perfect opportunity
I reckon Nigel wishes he dropped a few more holes into carrier when he had the rigs on site last time round .Anyways .. Also the target area is where the existing pit sits which was dewatered last 12-16 months ago ; that would logically be the spot where the they will start mining ; but what happens If minerialisation / grading / thickness / veining is off in that area and only discovered after works have commenced ; that sort of error would be burn cash ; also I’d find it difficult to think that anyone would actually run their pit designs and commence operations in an area with no bore data ; but it is probably quite a bit of drilling for this area alone .
Personally ; once AVZ get through these negs around carrier (which I presume is the issue ) ; I’d be running a rig into that area stitching up any mining code rocks that could potentially become loose ; also by drilling more into carrier and they would be extending the negotiations leverage stick if anyone did come to the table . Thinking we have another 400mt in Carrier is very different than actually having real data to prove up the probability.
The money it costs to drill out these additional 15000 meters could potentially add another two zeros or so to valuation ; certainly not wasted cash
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