As Ben told me in email, they will be providing several subsequent announcements including expectations for the next hole to start in a few days as well as the detailed results after the cores are assayed by the JORC certified independent lab.
This is what we need really,rather than saying that Hole 1 encountered thinner and lower grade potash. It can be thinner and lower grade but still can be significant for total resources.
They anticipate much better results in the next hole. By reviewing the historical holes, I don't see significant difference between hole 1 and hole 2. However, as someone previously said, this is not oil exploration, this is heavily dependent on geology of individual hole locations. It doesnt mean there is no potash around hole 1 because of the fact that hole 1 didnt encounter thick potash layers. We will probably need to drill additional holes there.
I think SP can go up to $1.20 easily with positive news from the next hole. It will put the confidence back.
TRH Price at posting:
91.0¢ Sentiment: ST Buy Disclosure: Held
