It all comes down to whether you believe they've got resource in the ground... todays announcement shows there's signs of a decent deposit and should see a it of an increase, regulatory approval and drilling commencement maybe a bit more... then the possibility of a CR (there was 800k in the bank end of last quarter and initial drilling will eat most of that) might see a bit of a pullback but then the payoff if drill results are positive could be huge and of course if the drill results are mediocre or poor then that's all she wrote!
It a speccy so you've gotta be comfortable with the risks...
Ann: Drilling campaign to commence & results confirm Co-Ni-Sc, page-21
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