pretty simple - 0.4 g/t au in that drill hole and the story would have been very different. I think its pretty obvious the MD expected it or they'd have done a raising on hitting the porphryry. Major shareholder dumping into the bad news = quick and nasty collapse. Many caught the hot potato and now wondering what to do with it. (hot potato anyone?)
One drill hole doesn't make or break a deposit as large as this porphryry probably is but its a long time between drinks waiting for the next DD hole which may or may not show anything better, and they desperately need cash now.
If they'd raised a quick $1 mill in the hype they'd have a story to sell now about the next diamond hole etc.
ICG Price at posting:
4.0¢ Sentiment: None Disclosure: Held
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