Jazz
I learned a lot from my exchange with fengshoey [sorry to see him in the naughty corner]. From that exchange it became clear to me that until the drill results turn up good grades near the surface people in general will not buy in.
Fengshoey made some very good points regards the value of the low grade ore. Hobbs 1 by itself, with no proven high grade reefs at surface is not commercial. The other assets held by SOC [PMR etc.] are still in the black box category .... so very little interest in the company. There has been no substantial news now for a few months .... though not in a million years would I have predicted this level for the SP.
If Hobbs SE is confirmed as another pipe things start to change. Even if no high grade reefs are discovered on this run they should be there .... that is the IRGS model and confirming another pipe helps to confirm Mt Adrah as an IRGS.
We know there is good gold there because of the long range hits from Hobbs 1 [Castor being the best one so far]. I have my fingers crossed that they do better second time around at Arcadia. Arcadia is a big site and it was mined by hand in the past. It should be a prime target.
I understand about the risk that the new company also might be a semi liquid stock. I intend to get some stock because I can see the potential of swing trading across the two entities without losing my exposure to Mt Adrah. I also think management are rewarding shareholders by offering them a guaranteed placement @ 20 cents. When AceA bought in at the same price, which we are now being offered, the JORC was 1/3rd the size and Castor was a complete unknown. It still is a risk assessment which has to be made but I am keen on this whole thing and do not need my arm twisted.
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