General discussion, page-10765

I wonder what the next move is for Encounter. They raised $10.5m @ 22c per share in April for 20km of aircore drilling (and some diamond drilling at the eastern end of the tenement). As @salpetie details here, they've likely exhausted the majority of the aircore metres now, including ~10km at Green which has thus far underwhelmed its lofty expectations. The stock price is down from 87c to 57c since those results were released. There is clearly promising ground in their tenements, an interesting carbonatite footprint which has been expanded by the latest drilling, and a few compelling assays like those in the narrow dyke at Crean, but unless they hit something big in the remainder of their campaign, it's unclear overall whether the new information from this drilling campaign has increased or decreased the expected value of their ground, and I'm not sure that they could justify raising at a significant premium to the previous round, which was at a 60% discount to the current market price, even after the 35% price decline in the last week or so.

WA1 could be interested in purchasing rights to the adjacent ground at Emily and Green - WA1 has the money, which Encounter will presumably need, absent a big hit, but I'm not sure that the ground is economically necessary for Luni, the ground may well be cheaper in the distant future, and I'm not sure whether it's wise to fund another drilling campaign across the fence. Another scenario which has been mooted is WA1 taking a stake in ENR. I'm probably against both, unless they're at a low enough price. Thoughts?