Ignore the fanboys and ignore the market. It is just reacting to...

Ignore the fanboys and ignore the market. It is just reacting to the headline result.

The grade is very likely to be underestimated and so therefore is the amount of gold. The mining cost will be practically zero so the margin will be high as you say. The profit will be higher than what you have quoted IMO when you considered the information in the announcement carefully, ie the low grade sampling bias and the fact the resource is only calculated on 700m of the deposit.

I don’t think the market even read the announcement in its entirety before the stock was sold down. I saw the announcement and was still reading it when the market started selling. As I said the market works in mysterious ways and “reading” announcements and making informed decisions doesn’t seem to be one of its strong points. Just a bunch of irrational sheep jumping at shadows. Esh