I had similar thoughts, and saw these as reasonable grades (comparatively) if the tonnage ends up building. Its not a bad picture building for not much investment. Proactive Investor isn't much to base any analysis off, but they do make a good point today that every hole drilled has had results. Economic to pursue though? I would have thought so ... depends on continued results and other priorities I guess.
It certainly adds some interest to an already interesting Indo play, and I'll be fascinated to see how the SP plays out over the coming months.
Question I have is how its getting funded. Could be the market saw this as a last gasp of news flow before a CR, but I have to be honest, $20k in sell-offs doesn't make much of a market, does it! I keep thinking there is something up the sleeve if they haven't done a CR. That's either positive because it means a while longer without dilution, or positive because management are exhasuting all avenues before they sting existing holders. Based on the existing agreements and the results to date, an answer can't be far off. Any thoughts?
Could be wrong though. I usually am ... yellowfin Tuna are proving very resilient to all efforts to get them to farm-breed in freshwater swimming pools.
Thanks for putting in a post on this one!
COLCOM
AUK Price at posting:
24.0¢ Sentiment: None Disclosure: Not Held
