I seem to remember that SIR drilled to 300 metres and found very little. They went back and drilled a further 50 metres and bingo.
BOA have seen so many frustrated drilling attempts as some just kept on drilling and joined the list
of busted miners.
The placing at 18c seems to be a combination of hope and tightly held shares in the company. Any heavy buying could easily double the share price.
Ann: Exploration Update, page-5
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