Ann: Drilling Completed at Ti-Tree Lithium Project, page-101

I wouldn't say that buying after a good result is simply going to cost you "a fraction more". A good result could see a 100%+ gain on the day and, while it's correct that the VSR's MC would still be relatively low, further gains would compound whatever price you bought at.

E.g., if you buy in after a 100% increase from current levels and VSR reaches DLI's level of development (say 10x'ing it's current valuation for simplicity sake), you'd net 'only' a 5x return.

Risk and return hits both ways. Your less risky play of waiting for results will result in an equivalent gain in those that took the risk at these levels.