PEX 4.35% 12.0¢ peel mining limited

Hello? Any action at Mallee Bull?

  1. 3,388 Posts.
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    Surely they've been able to agree on the PoW with CBH by now? It's really concerning me that we haven't had an announcement about resumption of drilling at Mallee Bull - first shallow drilling to increase the resource and then deeper drilling to test out some of those anomalies deeper down.

    30 June 2014 I got this from Rob Tyson in reply to my query about Mallee Bull drilling (or lack of ): "With regards to current activity, we have commenced the scoping study very recently after finalising its parameters and selecting an engineering group to complete it. Related met-testwork is continuing also. As you would be aware, Mallee Bull is subject to a JV agreement with CBH Resources so all work programmes have to be agreed by both parties. The results of the scoping study will drive the next stage of exploration, hopefully being the continuation of drilling at Mallee Bull and the advancement of the project to pre-feasibility"

    So it doesn't take 4 months to do a scoping study. Making me have some negative thoughts and I've been generally optimistic and supportive of this project and the management team. Possible negatives:

    Scoping study showed poor results - I think that's material and if they had that info they should have announced it.
    Still discussing drilling program with CBH - shouldn't take this long and would mean there aren't any quality targets to drill.
    CBH are not as supportive as previously - if the parties are in dispute, that's material and should be announced.

    Certainly if any of those have occurred it would explain the sinking SP.

    The only way the SP is going up is if they hit some high quality veins of copper and/or prove up the commerciality of a mine.

    Sept quarter report is due so have to wait for that i guess; should be a fairly quick read.
 
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