Sydney, Nov 2, 2007 (ABN Newswire) -
Clancy Exploration is a precious and base metals explorer. The company began trading on the ASX in March this year and is rapidly moving forward.
In this interview Finance News Network reporter David Taylor talks with Mark Stewart about the company's share price and the new phase the explorer is moving into. Clancy's October/November corporate road show is also discussed.
TRANSCRIPT OF FINANCE NEWS NETWORK INTERVIEW WITH CLANCY EXPLORATION MANAGING DIRECTOR, MARK STEWART
David Taylor: Hello I'm David Taylor from the Finance News Network. Joining us now is Clancy Exploration managing director Mark Stewart to talk about the company's share price and some recent discoveries the explorer has made. Mark, thank you for your time today. Now just to begin with, you've been on the market now for three and-a-half months, are you happy with the way that Clancy is progressing?
Mark Stewart: I'm very happy with the work that's been going on on the ground. We've made some really good progress. We really did hit the ground running and we've managed to make some really good progress and good results as you've probably seen from the IP work that we've got and so on. The share price unfortunately hasn't been quite as good and not long after we listed the August downturn happened but we are slowing clawing our way back up and it looks like I think you know we'll now be addressing that for sure with the news flow that's coming up in the next few weeks.
The full report is available at the following video and audio links.
Video Link
http://abnnewswire.net/fnnlnk/2BUHN863Audio Link
http://abnnewswire.net/lnk/N1I6M170David Taylor: Now the share price has hovered between 12 and 20 cents, as managing director, is that something you watch closely?
Mark Stewart: Sure, I mean I guess even as a board we're interested in seeing volumes improve - certainly interested in seeing the share price improve but you know there's only so much you can do and in the first few couple of months we didn't really have anything new to talk about since the IPO. That's all going to change now and we should start seeing improvement in that share price with the news flow and we're now getting the news out to people.
David Taylor: Now Mark you've said in the press recently that diamond drilling has commenced in the Macquarie Arc of NSW, even a month ahead of schedule, and you said this represents a new phase for Clancy, what do you mean by that?
Mark Stewart: Well it really signifies, there's two sort of mile stones here if you like, the first is that we are in fact doing diamond drilling finally. This rig is actually capable of doing RC, aircore and diamond?we've done aircore drilling in the past in 2006 but this is the first time we're really going to be able to test some deeper targets and we have it for six months, so that's significant. 25 thousand metres of drilling, a fair amount of money is going to be spent and that's really sort of a new phase if you like. The other thing is that we've recently announced those IP results. That was the first IP that we've done over our targets, now we've always talked about the Clancy targets being something fairly special, we've put a lot of time and effort into generating those targets and to have these results over the first two targets that we've tested with IP is something pretty special from our point of view. They're significant - we can't wait to stick holes into them and see what's there.
David Taylor: Now understand you're in the middle of a roadshow, what's the main purpose of that?
Mark Stewart: As I mentioned in the first couple of months there wasn't a lot of news flow so we are now embarking on this drilling, we're getting a lot more IP work done, there's going to be a lot of news flow coming out of the company in the next six months so it really was a good time to get out there and start spreading the news, telling people about Clancy. A lot of people out there weren't really aware of the company - for good reason, but it's now really time for us to really step up and start letting people know what a great little company and how many fantastic assets we've got so we're looking forward to telling people about that.
David Taylor: Mark Stewart, thank you for your time today.
Mark Stewart: Thanks very much, David.
END TRANSCRIPT
Source: Finance News Network © 2007
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