RE:drill resultsbillyo,
- According the latest NR (5 December 2017) on drill results, they released the results for 10 holes, but... "Assay results are still pending for 40 drill holes".
https://www.azx.ca/alexandria-intersects-52-83-gt-gold-over-4-55-m-orenada-zone-4-continues-to-define-and-expand-gold-mineralization-at-shallow-levels/
I take this as they have not received the assays from the lab because of the current backlog. If they had the results, they could have said (if they want to be transparent they could have said:
"All drilling have been completed, assays for the last batch have been received and being checked by our QA people before they are released shortly and passed along to our consutant (with a name) for doing the RE".
I just made all this up, but I have seen this kind of discussion from other companies.
- CEO responsibility: Releasing the drill results and RE are the job of the CEO, not the BoD. The CEO/President is responsible for running the company, the BoD is to set priority and general direction, not the day-to-day operation of the company. If the Chair of the BoD is an Executive Chairman then the Chair could issue these result, but on behalf of management, not the BoD. Some company has one person holding all positions Chair/CEO/President...and Founder as well, lol.
- The new RE was supposed to be done by end of 2017 (last one was 2009), then it was rumoured to be in January 2018, and now has slipped to Q1 2018...Q2?
If they had 170 holes completed and only 40 hole results pending, the CEO would be expected to have a consulting firm to get going on the RE report, get the pit models ready to plug in the availble results (from the 170 holes). The rest of the results (from the 40 holes) can be added later to finalize the RE. This is no rocket science...just good planning.
Does anyone see the name of the consulting for the RE job? If the don't have one yet, then it would be time to change management. If they do, reveal the name...Bet that it won't hurt a bit. This would be good PR for the company.
GH
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billyo wrote: I am told that they have the 40 drill hole results but the BOD aren't releasing them as they feel they are more if the same as the previous results. To me that doesn't make sense and I don't know how they can legally hold them back from the ordinary shareholder.