Looking at the target size based on the plan view on pg 2 of yesterday's announcement, I'm not sure why people, and by extension the market, would get all excited by hitting those pods.
If they miss, with the market knowing a cap raise is on the agenda very shortly, I'd expect the SP to fall a lot. The SP has been falling since November, despite a rising Nickel price, so the market does not value all the small pods found so far very highly, which I agree with. I don't see how finding another couple of small pods of Nickel will make much difference to the current direction of down.
We obviously need to get a sniff of a large accumulation of nickel, clearly if the DHEM had indicated anything different to small pods being drilled currently, they would have drawn large DHEM plates, not small ones on the plan.
My real question is why are we not drilling those holes deeper so that we could have the opportunity of searching deeper for large off hole conductors? The ground down to the targets being drilled has come up with small targets and by only drilling to the same depth we are not likely to find anything different to the known small conductors. If the source was deeper, then only drilling deeper, then doing DHEM will find them.
The current program looks like a continuation of the drill here, drill there, drill all over the place, find a bit of Nickel, then move on to something else, but never concentrate on one thing, ruling it in or out. We already know there are lots of small pods spread out over a large area, why should finding 2 more make much difference, assuming the drill bit finds them?? How low does the SP go if these turn out to be nothing??
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