From my reading of ALK history, they drilled cheap RC holes first, establishing the fertility of the zone, which also established the presence of porphyry deeper down hole. After having proven that, they used the IP data to target the deeper zones with their diamond holes.
It seems that MAG has done the reverse - a high cost diamond hole first up, and having missed the core (which is admittedly a difficult task). They are now belatedly doing the RC holes, to help them identify the best approach thereafter.
It seems to me that the first approach (ALK's) is more conservative, and likely a better strategy for shareholder funds.
I made an initial post a couple of months back observing the slightly breathless style of Peter's announcements - lots of hyperbole - which made me very cautious. (a bit like GB's posts it seems).
Anyway, GLTA, the drill bit will tell it's story, and we cannot criticise them for inaction!!
MAG Price at posting:
25.0¢ Sentiment: None Disclosure: Not Held
