PRX 0.00% 0.4¢ prodigy gold nl

Don't have an engineering background but that high grade heart...

  1. 2,475 Posts.
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    Don't have an engineering background but that high grade heart
    there to me looks commercial.

    Is it because the CAP EX is considered too great for a small company

    G'day tangs-ABU has had a complete change of direction when a new independent
    chairman & M.D. were appointed.
    Recommend reading if you haven't already as yet the AGM presentation in full.
    Quote from our M.D. -Scale of tenements and cost is too large to fund independently.

    Taken from Matt Briggs (M.D.) 2d November 2016-AGM
    Unlocking The Discovery Potential in the Tanami
    Scale of tenements and cost is too large to fund independently
    ABM to focus on stand alone (world class) opportunities to deliver value
    to shareholders, partner prospective early stage areas to expedite success
    eg-Lake Mackay, partnering brings technical and financial support and
    accelerates target testing.

    Complete a strategic review of all project areas and targets, starting review with
    Suplejack, Bluebush and Tanami areas & generate work programs to progress

    high rank targets to the next stage.
    Compile into revised budget and 3 year plan & present to the Board in Q1 2017.
    Commence drilling as soon after the wet season as possible.
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx.

    Taken from Quarterly report -ASX release 31-Jan 2017.

    JV discussions have recommenced for the North Arunta Project !

    RC drilling is scheduled to commence as soon as conditions allow rigs to
    mobilise into Suplejack.
    There keen to mobilise this season after working in the N.T. for more than 20 years
    I can estimate a time frame for rig mobilisation as being approx. mid march, you can
    watch the monsoonal troughs towards the end of the wet & get a reasonable indication
    & allow for evaporation would imagine Suplejack is reasonably accessible compared
    to Lake Mackay .

    And this is likely why:
    Retargeting following mapping and reinterpretation of the Suplejack Project has
    identified additional structures which are analogous to the Hyperion-Tethys and Suplejack structures.
    Hyperion-Tethys Resource update is on schedule for release in the
    first quarter of 2017.


    Also did anyone notice this re-Grapple Prospect.
    All holes at the Grapple prospect with the exception of 16GRRC005 had downhole electromagnetic (DHEM) surveying completed & has identified a conductive plate
    associated with the mineralisation intersected at the Grapple Prospect.
    The DHEM interpretation suggests 16GRRC011 drilled above the main conductor and that the centre of this conductive body is further to
    the west continues at depth.


    So therefore hole 16GRRC011 is the most western hole drilled & has been
    identified as still being east of this conductive body that continues westward
    & at depth.
    This mineralisation has been confirmed as already having a strike length
    of 300mts that remains open at depth & in an easterly & westerly direction.

    Potential iceberg beneath ? actual size is yet to be determined & is likely
    to be a lot larger than what has been determined thus far.
    See below image & hole 16GRRC011 & its position relative to above
    comments. ​

    upload_2017-2-2_6-56-46.png
    2017 shaping up to be a big year
    imo-glth
    salt








 
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