I think it was a good drilling update Dan. Clear pathway to plenty more ounces close to the mine and at good grades in the case of Gold Nose. I think there is just considerable scepticism about whether the company is going to be running cash positive in the minimum 12 months before any of it can be mined. If it starts bleeding cash to the extent that it needs to take on more debt or have a capital raising, then current shareholders aren't going to see much value from the ounces down the track.
If they get themselves operating well, then great, mine life extension and extra value.
If they don't, then it's all just extra resources for whoever gobbles us up for a song.
Cheers,
Tim.
BDR Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
