DomIts speculative but calculated. At first glance the drilling...

Dom

Its speculative but calculated. At first glance the drilling results might not look inspiring to many people but neither is the share price, by some definitions we are sitting on a $4m market cap.

If the drilling results appeared more inspiring you would not be picking up at this price.

The bottom line is that management believe (and I agree) they are on the edge of a large system and in the process of zeroing in on the main source of the resource and they are getting closer. They are planning to diamond drill in the near term but you don't just put these holes anywhere, there's a methodical process.

You can also wait until they sink the diamond hole and get the assays before you invest, but if their dots line up as intended and they hit pay dirt you wont be paying anywhere near the current price. CMO is very tightly held which will make it move fast and sharp. Rumbles successful hole was worth about $400 million on the day. Divide this by 50m shares on issue to work out what you could theoretically be paying.