This is the whole point of an exploration company, to explore...

This is the whole point of an exploration company, to explore until they find something worth mining.

Any spec company comes with the associated risks and is a long term thing and when do you get in early and they succeed then you are rewarded.

Keep in mind also that heaps of stocks in this industry (including those with established resources) are down at the moment purely because of market sentiment - so combine this with the people that were buying in on the chance the previous drilling ANN would hit pay dirt and this is the SP we have right now.