the market shrugging off today’s poor exploration results and CXO closing flat after spending most of the day green is IMO a testament to just how far CXO has come over the last 12 months.
Back when we were just a hoper and a dreamer these results would have smashed the SP by 20%!
So even though today’s results are disappointing and frustrating given how long we had to wait for them, at the end of the day, these results are, in a way, inconsequential. They don’t negate the fact that Cxo still has enough resource for 10 years of mine life, mine is fully funded, construction has commenced and Cxo is poised to be Australia’s next lithium producer earning hundreds of millions of dollars for the next decade. 50 poor drilling results wouldnt change this! Haha
So I guess all today’s results mean is that a couple of targets which we were hoping would add to our resource and mine life aren’t looking too likely at this stage. And we had to spend a bit of money to find that out. But hey: that’s the exploration game
Nothing to do now but put a line through those targets and start scratching around at the next ones. Like we have been told, there are hundreds of untested pegs out there…perhaps just waiting to be found. Bilatos/Saffrums/Annie could be one of them.
So it’s interesting times! I feel like the market won’t really care if we have bad exploration results as the market is now looking at the bigger picture: Cxo commencing mining and production. But should Cxo have exploration success I feel the market would love it and the SP would still respond favourably to such news.
pretty good position to be in for holders
IMO
GLTAH
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