With any exploration company, it is not just essential to get things (ie. the geology) right but to get them right quickly. If drilling, corporate costs and even the cost of time with money were all free then it wouldn't matter but unfortunately you miss the targets too much early on and before you know it your company has a billion plus shares.
A decision to make now is if the future segregated shallow open pits they've got is enough to underpin the mkt cap and how much blue sky there is built in for the yet unfound deeps
Ann: Mt Alexander - Drilling Update, page-81
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