RE: RE: last 30 mins trade action.... From what I read about their last NR (below) is that we have received all ot the results that will be included in the RE (resource estimate) 400+ approx holes drilled @ 80% = approx 320 holes. To date we have received approx that number of holes. The other 20% of the holes according to the NR will be released in two to three months and be included in an updated 43-101 with the release of the PEA. I imagine that CIBC did their own calculations knowing all of the holes have been released that are to make up the initial 43-101 and lowered their target price. I certainly disagreed with many of Tanzdevils posts but in one post he mentioned that they could not get a handle on the geology. That sounds like the case as many of the infill holes do not seem to support the early drilling success. If he knew that, it is a safe bet that management knew it, only problem the "backed up labs" excuse may have caused many to hold this stock loger than they might have if all results were put out on a timely basis. I hope they have some good news to release prior to the 43-101. ALL IMHO
"Sample processing to date has been focused on delivery of prioritized results for inclusion in the ongoing initial mineral resource estimation. Further to delivery of those results, additional samples are being processed to facilitate an update of the initial mineral resource estimate during the upcoming preliminary economic assessment (PEA). To this end, approximately 19,000 samples are currently being processed at laboratories for preparation and subsequent assaying. Samples tested and reported to date represent approximately 80% of samples for the Magambazi zone. Samples in the lab represent the last of currently planned test material, approximately 20% of the total, subject to identification of further samples and potential mineralization in the extension drill program. The processing and reporting of results for samples now in the laboratories is anticipated to take two to three months.
Geological interpretation is ongoing and will continue to be developed as results are received. This continual approach to interpretation is expected to complement the mineral resource estimation process and facilitate updates."