My read on the negative market reaction to the good news gravity survey announcement is that the market wants TMG to economise cash until the near term producer peers sort themselves out and restore bankability to the sector.
Hence money being spent on exploration gets a negative reaction. I’m guessing that there are expenditure commitments on the tenement that have to be met anyway and a gravity survey is a cheap way to do that.
Ann: Gravity Surveys Reveal Significant Growth Potential, page-3
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