1. Fairly easy to continue with renewals/applications. I wouldn't be too weary of this due to the fact we recently just applied for a tenement granting through Awati around Jan, with it being approved last month from memory. Shows they have a good relationship with the environmental department etc etc. Let the expertise manage this application of funds accordingly as you'll find trusting great management is the key to investment. Awati (a number of current employees & BOD members) have been accumulating these tenements & setting this play up for an excess of 10 years.
2. I believe the BOD's expertise & experience with capital market reputation/connections have drawn attraction to Tibooburra. You don't privately fund programs for years solely based. Big money involved. The uranium asset can't possibly be priced in with a ban in WA but I do believe it has been an attraction toward punters or potential investors, which after further analysis, can see the Tibooburra potential.
3. RC can penetrate well, given the host rock too. Given their targeting the continuity both down-dip and along strike, they'll naturally be drilling lower than the water table & will be looking at fresh rock expansion. Drilling should take a week or so, albeit we don't know the proposed depths as you mentioned! You're correct, it's a very well thought out and strategised campaign to confirm their theory, helpfully identified through the Passive seismic survey.
4. For this type of rerate, I wouldn't over analyse the channels in such a manner or specific candles unless you can see a negative (such as selling pressure). We've surpassed the most recent target, whilst breaking out strongly above the consolidation area 1c. MHC is rerating on relatively low volume for the amount of SOI which demonstrates the demand/strength behind the project & the tight registry. All holders aligned to the same outcome as we were sitting in an undervalued position prior to this run.
Gold speccies are being rewarded in this type of market with POG rising. Hot money running around this area of the market which builds a compelling story with the stars aligning on this one. I think the BOD have brought an insane amount of experience & knowledge, so the market understands the class onboard such a speccy & understand the rewards when following their history.
Peer/comparative analysis would suggest other explorers along high-grade prospects can be valued anywhere from 15mil + so it was a simple call to accumulate the cheapies prior to drilling commencing.
The sector is hot + expertise involved + privately sunk funds along the journey + discoveries are being rewarded. Thanks mate, if anything is unclear, just buzz away.
More than happy to be corrected or be optioned to a more opposed view.
MHC Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
(20min delay)
