I don't know what's going on, either on the exchange or in the field.
The 'action' on the ASX looks like maintaining the status quo. I don't see it as having any special meaning. The wide range of prices is odd though.
The drilling that is happening/has happened obviously hasn't shown up any visuals that management thinks are 'material' or price-sensitive. I have known instances though where companies have called a TH for visuals before announcing, thus creating some positive excitement, but only to learn later on that the relevant samples or cores, as the case may be, have not endorsed the visuals.
Reporting on visuals can be quite risky. Unless it is super confident, a company may choose not to report on visuals. The Continuous Disclosure rule to report 'material' news pronto does have some exceptions, including "the information comprises matters of supposition or is insufficiently definite to warrant disclosure". That exemption therefore could be used with some visuals.
Then again, there may have been no visuals so far.
What we do know though is that the areas being drilled are not barren mineral frontiers. Copper and gold, and other elements that can vector vms, have been found there. What drill hole will puncture the secret?
AUR Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
