The big thing I noticed today was the absence of chatter on the Day Trading forum, Short Term Trading forum and even twitter which really surprises me . That is really encouraging as it is more likely those buying in today realise the magnitude of those results and are getting set for the Medium-Long Term. That potentially bodes well for the near term as outlined below.
For comparison Malle Bull Results from June 2015, and associated chart:
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Note this was 4 holes out of 20 for those results on a much better refined target prior to commencement of drilling.
Now todays announcement and chart:
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Note this is 2 out of 4 holes based on the back of the initial discovery hole and hasn't run as hard. Also note zinc price in 2015 was $1USD per pound where it is currently $1.45USD per pound, some 45% higher. If you throw in the zinc inventories for comparison over the same time period it certainly paints a rosy picture.
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Still plenty more detail required with continuity being key, however if it was a certainty it would priced as such. We are definitely off to a flyer and I am very happy to hang around and see how this pans out. Note you're a long term holder so the following comments from todays announcement hopefully alleviates some of your anxiety!
"The tenor of mineralisation discovered at Southern Nights ranks as the best zinc-lead-silver mineralisation encountered to date by Peel, and subject to assays, possibly the best intercept encountered since the Company’s inception. Accordingly, Wagga Tank/Southern Nights will receive priority attention over the coming weeks/months, with drilling continuing at the time of reporting".
