Ann: Drilling Update Peru Copper-Gold Projects-AQD.AX, page-17

Picked up some at 1.3 today. Priced for failure, likely to hit something with that much drilling. The way I see it for this stock: Hit something decent >30m apparent width, build interest in the stock, issue a further 10% capital at ~2.5c to fund the next 18 months of overheads while the JV partners do the hard yards. Textbook play this one. Stockmarkets generally liken porphyry deposit exploration because the blue sky is just so damn high - either everyone's already loaded up around 1.5c as per the recent trading action in July, or this is flying stealth mode and ready to bunt 100% on the sniff of an oily rag.