Ann: Drilling Underway at Frewena, page-199

GRV pulled up nothing from their highly prospective drills in the area. SER did the same. NCM haven't discovered anything announcement-worthy in the region.

bk04 assays were lack lustre (at least compared to original estimates around which much of the hype was generated IMO) and now this delay in announcement from the first "prime target" at ICG.

from a regional perspective, drilling has been going on much longer than just a month.

you're correct in that there's nothing to suggest there won't be a eureka moment in any of the subsequent holes. or in the next 20 metres of the current. but will it be economical? taking a reality check - there is a growing body of evidence that this region may remain theoretical. or academic.

basic common sense indicates that the low hanging fruit for each company is disappearing fast. leaving only less likely targets.

risk, IMO, is therefore increasing in each passing day. and I think that's reflected in the declining price.

but who knows, maybe the diamond hands will be rewarded.

all the above is my own uneducated opinion only. certainly not advice. dyor.