Not too sure why you would think that a drilling announcement would be a catalyst for a share price "spike" because every one knows they are going drilling. What I would be considering, and I think (IMO) the market will want to see is actual assay results.
So there may be some initial share price action, maybe but the share price previously has failed to maintain momentum on good results (see chart) I can't see this being any different.
I would also be thinking that there is little hurry for "new" investors to take a position considering the actual time frame before we start to see results come in.
I have two opinions on this:
Best case scenario would be to send off samples as they complete each drill hole, so an anticipated time frame would be as an example:
First hole drilling starts 5th March - (personally I don't think it is doable for this early a start)
1 week to complete to depth
Send it off to the lab 4 - 5 week turnaround (including transit times) but there is possibly a better turnaround now we are testing in Western Australia.
So in the best case, the first drill hole assay result back by mid - April, as long as they have an great/exception intersect it will be game on.
More likely scenario -
Drilling starts 5th March
10 -15 -20 holes @ 1 week each (the disparity with the actual number of holes is from their announcements)
Lets pick the middle number of 15 holes x 1 week to drill and move to the next hole (this is an unknown from their announcement)
Drilling is completed around the 18th June
Assay results pending and due around (4 - 5 weeks) plus some wiggle room for Watts to decipher and get it into an announcement - 30th July released to market.
I will stand by my original thoughts that I see the share price around 1.2c waiting on news unless that some exceptional OHD news is announced.
All the above IMO only
cheers
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