hmmmmYes it is a spec, and it must be assessed by comparison of...

hmmmm

Yes it is a spec, and it must be assessed by comparison of its current mc, what effect to MC success spud will do, (balpark higher IMO) vs the downside on MC if SPUD fails, to fall back to other projects, or drill Kate to new depth, whatever.

Downside is to fall back to 6 cent support level, who knows?

Upside, ballpark higher. ie 60c- several dollars.

What choice do people have who are on the sidelines? Do they wait for the SPUD, and have to buy after the trading halt, into a rallying open, 16 cents rallying higher to a new ball park? Or do they get set at current levels?

It all comes back to risk.

I would agree the long term support is a probably dangerous to buy above 10c, with support at 6c, for a dry kate.??

But that's the risk.

I would tip the support to remain strong at current levels, up to KATE spudding, and after that, its a racing horse,or a horse with a broken leg.

For mine, if i didn't already have a position, I'd say if it can go 500-1000% within a year vs -50%, then maybe wait for the announcement, buy on open, pay 16c?? cents for a certain play that will run alot further, or stay away on dry kate.

good thought sandy.


Good luck all.

cheers