Not exactly a like for like comparison , but I understand what you're getting at.
With the company you mentioned , it's a ' Petroleum and Gas ' exploration play , in which many of those type Companies are significantly ' Diluted ' before they ever get to a ' Discovery ' find. And the risk's if you like per Well v per Hole , or meters drilled in the minerals exploration stage companies are nowhere near the same.
I remember years ago , I made absolute buckets by getting onto KAR early following it's Market float. Of course back in those days , the Woodside's and their offshore region's nearology plays were all the BIG rage. But look what happened to their SP over the extended Journey.
So YES , you're spot on when you say it ' Could ' come back. But one learns to recognize and differentiate these plays based on Market history and experience , so this one looks just that little bit different , and enough so that you get a sense that should the 2nd 1,100 metre hole come in , then it's potentially game on with them. There's a little bit of time to obtain supporting assays' , so they will need to back fill the market with other news which will probably come from it's Lithium package.
And you know yourself that there is so so many examples of stocks running hundreds of percent only to find themselves falling back to square one. And a lot of that comes from the ' dilution ' of interim raises to support further exploration which doesn't end up delivering on.
I bought PRL at 7.5 - 7.7 and saw it go into the 20's only to fall back down. I sold but others did not. LMG is another recent one. RGL and KAI back in 2020 . HLX back in the day from its ' Gawler ' Craton Gold find .....then years in the wilderness. They've risen again more recently on some sniffs of Copper up around Cobar only to fall back to around their recent capital raise.
There are literally so many in my Head it would almost be impossible to mention them ALL in just one post.
So the reality of the situation is that if you're going to survive in this business for the long haul , you need to take profits and / or capital to manage your situation. And that's none of anyone's business except yourselves.
Spent a lot of time discussing that stock over the last few days with my Son. I told him on the FIRST day that it would go through and be the next stock to join the 10.0 cent club and he said ' No way ' ... I don't even want to think about that......it has to re-trace . I said no it doesn't and told yesterday after we watched a podcast with its MD that it would go to 20.0 cents .....and the day before when it didn't even hold 10.0 cents the first time , I told him don't be surprised if you get 30.0 or 40.0 cents with this stock.
I then said you've done well Son.....just enjoy it. Feels good doesn't it.....now move on and work on analysing some other plays. Which he has now done.
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