A lot of premature sellers today imo.
One good hole doesn't make a resource, and one bad hole doesn't discount a resource being there.
When Sirius were proving up Nova, there were some conductors that proved to be duds and many holes were sunk that confirmed this.
There were also many holes that were winners. Unfortunately they don't follow any predetermined order.
That's the nature of exploration.
Some may have missed in today's announcement that,-
"RC drilling is currently under way to test an area of the CE Prospect where aircore drilling intersected trace sulphides hosted by mafic intrusives"
They may hit massive sulphides in this hole or they may not.
The point is that RC drilling is still continuing at the eye and imo, all today's announcement did was to create a buying opportunity for those that were not set already, for the next results to come..
New Feature Announcement!
We’re excited to introduce the DealRoom portal, now live on site, providing users with exciting access to private equity opportunities for both pre-IPO and publicly listed companies.
See full details by selecting the new menu item named 'DealRoom' on our main menu bar or click below.
Stay ahead of the market, with HotCopper.