AME 10.3% 3.2¢ alto metals limited

Thanks Corona, Attended the GM today and most topics are already...

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    Thanks Corona,

    Attended the GM today and most topics are already covered in the Diggers and Dealers presentation.

    In no particular order here are some observations:

    The date of grant for the claims is expected to be the 18th of September. Apparently this is a statutory period from the date of Native Title (?application) plus 4 months to allow response from any parties. No issues are expected as the approach will be similar to that used by Troy that worked.

    Following the grant of title a Permission of Work will be submitted and drilling can commence once that approval is received. The rig is expected to be on site, as announced, in the first half of October. Analytical results may be before Christmas if all goes smoothly.

    The rigs will target primary zones below the the Lords pits and ?forget which.

    DCN approach to proving up a resource/reserve over the next year or so. Too early to be definitive about processing options. Trucking to Magnet or Leinster were mentioned.

    Panoramic apparently are progressing the Gidgee Project some 80Kms north 'as the crow flies' with a new Mill of 1.5Mta capacity on the cards. A figure of $62M was mentioned for that mill in the context of the order of magnitude of expense likely for a similar one if the stars align at Sandstone.

    Geophysics will be a major targeting tool. 40m spaced aeromagnetics will be purchased at a good price and processed ?in house. IP done by Western Areas is also available from their Ni search. Apparently there are some changeability anomalies in the Ip data that may help at the Lords.

    The WMC area mentioned in the ERA report is apparently under deeper cover and will only be targeted in later drilling.

    That's it from my notes and all I can recall atm.

    As would be expected the tone was buoyant, if a little subdued from 3 days at D&D.

    Jokingly on any TO offer - it will have to be a VERY good price given the major shareholders control. Representatives of 3 of the top 5 SHs were present.

    GLTAH
 
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