Ann: Resource Drilling Recommences at Bald Hill Mine, page-27

For those who didn't manage to read my earlier post (Alliance Mineral – How Much More Patience Do I Need?), here's a screenshot of PLS (Pilbara Minerals) share price history during their drilling program.

Granted, the drilling program (such as duration, types of drilling etc) might be different for Alliance & Pilbara and I am not saying that our drilling program will gain the same traction. But it does give us a good indication that resource/reserve/LOM upgrade does drive SP. And we can see similar outcome from other mining companies.