Ann: Exploration Update, page-22

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aceagles

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23/01/17

12:40

Post #: 22075310
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Originally posted by Ellendale ↑

Couldn't have said it any better myself Milwarpa. In fact was just writing the same things as yours popped up.

Let's not forget that previous management drilled 14 holes in the same area chasing ghosts. Now naysayers without the courage of their convictions and no skin in the game are trying to say that current management are incompetent because they tried two holes at a small legitimate offhole conductor and didn't quite get there because of unforeseen ground conditions and deviation. However, they did prove by the sound of it that the conductor is small and NOT the tip of an iceberg, so made the correct decision to shift focus on the other 998 square kilometres of property with targets that have never seen any previous exploration. And as you say they are doing it in a logical, sensible and diligent fashion.

If the naysayers are serious about backing speculative exploration plays, then they need to grow a pair as this business isn't for the faint hearted. If you want certainty, buy bank stocks. If you want the rewards of speculation, you have to be prepared to wear the risks that go with it.

Very early days here, and the company is only now doing the type off exploration previous management should have completed years ago.

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Thanks for that Ellandale, it's nice to get a balanced and considered view from someone with the necessary geological knowledge behind them to speak with authority on the matter at hand.
From a commonsense view as I suspected it's undeniably somewhat of a short term disappointment but longer term we're still on relatively sound footing, thanks for reinforcing that opinion.

MRD Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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Ann: Exploration Update, page-22

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Ann: Exploration Update, page-22

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