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Weakness on decent 0.5m volume today, buyside very thin could indicate those loose lips.
- On the horizon, two assay results from down dip Hill800 aircoredue by end of the month and 3 months of drilling at hill 800 and Rhyolite creek targeting magnetic anomalies. While RIO Geo-physical air-survey results at West Paterson due Q120.
- In theory it could be a real buying opportunity into that news flow.
Risk/reward could have real skew to upside, share-price floor of 8-12c range due to the 3 current JVs, probable resource base already established at Hill 800 (small) and cash position $3m. However today's volumes and tape reading does cause hesitation.
Acknowledging it is speculative, allocating 1-3% of portfolio to it. I think I will watch over next couple of days and take on that probability distribution.