GGPChat

If you were MD of a Company, would you announce an expensive exploration drilling plan, if you didn’t know your full financial situation ?
No !
In my opinion this exploration program has been held back until the 5% deal is done and the amount of money coming in from it is known.
Think about it, the more we get, the more we can drill ? So you need to know the 5% first.
This has been announced today as the 5% deal figure is agreed in my opinion and incoming.

What a day to announce a 5% deal on Monday !
When everyone in the USA is on holidays as it’s the 4th of July, that would catch a few out !!!

I was thinking the same TC - although in this market, things that make sense often make no sense at all!

Here's hoping - it will be nice to get the 5% monkey off our back

Hi Chap, I think I replied to you on Telegram. See the last point below from November’s RNS relating to the placing.

I’m not saying you are wrong, just managing expectations. The only thing we know is that the 5% will be resolved prior to DFS. DFS is being issued October - December 2022.

Hi Tallchap
Why are you saying it’s an expensive campaign, where have you got your information .
Rudall is part paid for with a grant and that will be the most expensive.
Swan and Pearl are more than likely RC drilling which is much cheaper than DD.

You should all remember it was only a few weeks ago the Pilbara region was hit with the remnants of a cyclone, a very wet one.
How do you expect them to start drilling in those conditions?
The drilling has more than likely no connection with the 5%

Tallchap - you little tinker, you're leading the chasps on LSE astray with your theory, perhaps?
Z

At the end of the Liam interview (part 2) Shaun discusses the regional exploration plans beginning end of June so he already knew they were doing this. Although it would be nice to see the 5% resolved and rns’d on Monday it looks like this exploration programme has no bearing on the 5%

RC/DD drilling here.

Similar ground EM conductor plates were identified in the 2021 survey at Pearl (A32),
reported in RNS dated 5 April. Additional ground EM is currently underway to further
refine the target conductors, and drilling is scheduled to commence shortly. At least two
Reverse Circulation ("RC") and Diamond Drill ("DD") holes are planned and will be drilled
in the coming weeks.
Swan East
Conductors were also identified at A34 and A35, further to the east of Swan, in similar
geological settings. A short ground EM follow up survey has just been completed at A35
and the results are being integrated into the modelling to refine drill targets. Up to 4
RC/DD holes are planned on these targets.
In addition to drill testing the ground EM targets, geophysical modelling and data
processing of the ground and aerial EM, gravity and magnetic datasets is continually
underway, looking to identify further drill targets. Surface soil sampling across existing
tracks over the Ground EM target areas was recently completed, to test effectiveness of
it as abroad screening method over potentially mineralised bedrock, as found at
SWD001. Analysis of the results is underway.