19/2 announces option to purchase BV 22/4 commences drilling at BV 11/5 initial drilling results 26/5 final drilling results 16/6 new discovery at Iron horse 18/8 initial 3rd party metallurgy test results 5/10 further 3rd party test results 26/10 final 3rd party test results 29/10 initial positive feasibility summary in quarterly, pending further 3rd party data analysis
in my experience, 2 weeks between drilling and initial results is very good. 4 weeks between drilling and final results is exceptional.
the fact that the (3rd party) metallurgy results took one month longer than expected is, in my experience, neither a big deal, nor is it unusual.
this also accounts for the 1 month delay in the initial feasibility findings.
so i can't really agree with you that they are dragging their feet.
in the 2 months between the iron horse discovery and the inital test results, the services of Veritas were effectively employed to help amp up the shareprice, another positive in my opinion.
the way i see it, if the numbers don't add up, the board has still managed to do just the right amount of work to help get the oppies in the money, staving off further unnecessary dilution ( a guaranteed by product of further superfluous exploration designed to appease traders) and leaving them in a position to continue exploration at both Loonganna and Narracoota.
while i would not be disappointed if my money doubled tomorrow on this stock, i would also guarantee you that i would sell and probably never look back, knowing full well that once a pump and dump, always a pump and dump.
sustained organic growth with minimal dilution is a rarity in publicly listed companies, and i prefer to park the bulk of my money in such stories until they prove otherwise.
RHM Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
