The job of exploration companies is to investigate and drill out juicy geophysical targets like Avalon. You would be concerned if they did not drill it considering the geophysical signatures resembling Luni. A shame Avalon did not go as we expected, I am more disappointed than anyone. The lab did the talking and Nb-REE sadly does not exist at Avalon.
Luckily it is a numbers game, the chance of holding good ground in West Arunta, with plenty of other targets at Pokali, Sheoak, K1 & K2. Pokali, Sheoak and K2 have already beaten expectations. Plus, more diamond hole results from Sheoak, K1 and Avalon are still outstanding so expect a couple more assay releases in the next 4-6 weeks. I am not expecting much from the Avalon hole after this information but the Sheoak and K1 diamonds could come back with more positive results.
At the end of the day the Nb-REE trading hype club have left the building and those remaining are the long termers like me focusing on growing a major resource and methodically exploring to further delineate the mineralisation zones at the above Prospects. MEI have done a good job with their TREO resource, growing it after many drill campaigns and now have a $250M market cap. Nothing happens overnight in the exploration game as it generally takes multiple exploration campaigns to build a resource. Right now, we have an opportunity to build both a Cu & TREO resource, plus more exploration news to come so we may get more surprises too.
Many people got found out with the hype and sold at a loss, many still have a lower buy and need the price to drop so I can understand the negativity in here as they either hold a grudge or think they have missed the boat. At the end of the day, be confident in your investment strategy and be patient and await further news and confirmation of mineralisation. A $7M Market cap is nothing for RCR considering we likely have $3-4M in the bank, plus 3 diverse projects in Australia and now the West Arunta Project is showing signs of potential economic resources. Upside is huge right now IMO. Personally I am happy the traders and hype crowd are out of here.
