Normally you would not need to be advised by a reputable
mining company all timing details on drill hole information. However because of
the initial lack of information the Directors of CuDeco (Australian Mining Investments), who are about to vote options to
themselves, need to advise shareholders the date each drill hole was drilled,
when they first became aware they had drilled through wide intersections
of sulphides (the drill logs will help them remember) and the dates when they
received the assays for each hole. Most assay labs allow companies to access
assay information via the net on a daily basis so they don’t need to wait
for the mail!
Once this information is known by shareholders the Directors
should feel no “guilt” with regard to issuing the options. Not to supply
this information will give the ASX and ACCC plenty more questions to ask. The
Directors need to be aware that in the 70s Mr Cutler of Leopold Minerals spent
quite a while eating porridge!