Yes, exactly.
Most results are usually reported after they have been assayed and in batches of several drill holes, or showing the complete set of drill results.
On rare occasions a company will show photos of a drill core prior to being assayed if the core shows obvious signs of significant mineralization which is likely to meet or exceed market expectations.
Why, because this will likely have a positive effect on the share price as investors await the assay results from the core shown which almost always vry high grade. WAF is an example of a company which does this constantly showing visible gold in their core photos and the assays that come back are always of very high grade.
Conversely, companies usually never show a core photo from their first hole in a multiple hole program prior to assay which is unlikely to meet the markets expectations - as this will almost always result in a share price decline. Yet, this is what TRL manangement did today!
What they should have done after receiving the visuals which were below expectations from the first hole, was to finish the drill program where hopefully the other 3 holes showed more promising results, and then reported the drill holes together. If the majority of holes meet or exceed expectations the share price would likely advance irrespective of a poor first hole. Instead, they have now led to a lack of confidence in the drill program and for some like myself, a lack of confidence in managements judgement.
I wish current investors the best as many are underwater after today's performance, but for me such simple errors from well-paid executives do not fill me with confidence.
Cheers
Maverick
TRL Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held