OK, I think I can see what's happened here.
MRD lifts its skirts and gets some hot money on board, but sells too many shares because they are greedy and desperate. The register is now minority controlled by the guys who underwrote the raising.
its all G until the drilling "incident". Then the new hole is dug and comes back a duster.
But the real problem is that someone is leaking info. First we have the mysterious price rise before the baby's due date, which may have been ill-informed. Lets say that some sulphides are recovered, and someone phones their mate, nudge nudge wink wink and the price spikes. Oh, totally don't now what's going on, total mystery.
So a week passes, and the price crashes because Mr nudge nudge realises it's barren pyrrhotite, except his mate's now on the hook, as are the underwriters, and everyone's demanding stuff from the Directors.
Some people demand something too much from Deano, he tale flips, quits the company because his share holders are hostile and are pressuring him, and there you go.
Now the new owners and movers and shakers have the tiger by the tail and they have no bloody clue what they are in control of. There's all these notes about troctolite - like, what is that even? - and gabbronorite and pregnant magma, sulphur saturation, AMT, blah blah blah.
So the new directors to be, or their rich puppetmasters, hire Donaghty or whoever (and I have no idea why that guy reckons he's the "real deal") to dumb down the geology jargon to answer the question: is it a goer?
Oh well, I guess it's lights out. The ONLY positive spin you can put on this is that when you have a complete dog of a project, no one forces out the MD at the vinegar stroke.
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