Ann: Substantial Holder Notices-ARD.AX, page-19

Your guess is as good as mine Crom. My read is that ARD is just a cautious, diligent operation, and it has nothing to do with whether the news is good or bad. I looked at a stack of other gold/silver stocks for my hedge against the financial system, and these guys were the best at explaining their resource, their drilling results, their geology, their method etc etc in a way that a sensible layperson could understand. They will take their time to get it all right, so might be slower to mine than others, but given how long they have been at this, i think they will get there