"It is unusual that a first pass drilling program at a ?blind? drilling target beneath transported cover could deliver nine contiguous drill holes over several square kilometres, yielding high grade results near surface. Until proven otherwise, the geological nature of this style of sedimentary phosphate bed in such an environment suggests the mineralized body is likely to occur as a uniform ?blanket?, thereby suggesting a high tonnage, high grade phosphate deposit of giant dimensions."
I think the reality of the drilling is now showing that they have ANYTHING BUT a uniform blanket of high grade phosphate. Hence, the market's disappointment.
RUM Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held