Agreed, good time to accummulate - $10M MC is the new base but I get a feeling that it will stagnate a bit though and continue in sideways range. Fundamentally there's not much for them to report to the market as yet other than to say "Drilling Commenced" unless they pull something out of the hat. Metal prices moving up again may also garner some interest. There may also be a small technical run based on indicators but I can't see it making a big move/breakout until they make a find, what we're all waiting for.
It's Winter (Cobar) and rainfall is highest on average now, the likelihood of delays are at it's highest. AGC had a good headstart by drilling in the months where rainfall was at its lowest.
Canobie is approaching the lowest average rainfall months being in North Queensland but it's in the same boat with "drilling to commence" - if they're basing the next lot of drilling off of the gravity survey they are only midway through that at the moment and not expected to be completed until mid this month. Then they still need to get the drill plan together and send in the drills and the samples to the lab.
My thoughts are it's the best time for longer term investors to load up before the traders move in on the back of drill results in quarter 4 this year, that's at least 3-4 months away IMO...
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