Many people have an intense psychological need to "get set" at the ground floor, before meaningful exploration results are in. If it works, it works well, and the rewards can be stunning. However, the ASX is littered with spec mining companies where the much anticipated moonshot has come crashing back to earth. The odds are stacked against you.
I much prefer to hit the sweet spot of a rerate as the market comes to grips with an unfolding story. Especially one like this, where the geology is still being understood, but what has been revealed to date underpins the share price.
People can't bring themselves to pull the trigger at a much higher price than that of a few weeks ago. Even if the drill results and understanding of the geology have materially altered in the meantime.
The big boys leave their prints all over an emerging story. Learn to read the signs.
EDIT: My comment was not addressed to @unsinkable, or indeed any other individual poster. Just a post on the psychology of a rising share price in the context of an emerging exploration story.
