Hey M1
As usual I think your interpretation is pretty well spot on.
Even though my interpretation was the same I could see that some had concerns over depth not being mentioned in the announcement so I touched base with John
My interpretation of what he said (regarding making an assumption that new targets identified were not at depth just because depth wasn't specifically mentioned) was that it is not a wise conclusion to draw.
I hope I have this interpreted correctly - I think the Samson survey only provides a total electrical field and does not provide directional data - hence the requirement to conduct additional survey work and modelling to define targets more precisely (like how we have been provided the x, y, z components of the EM responses in the 11 July 2016 announcement - per the following figure 2
View attachment 372527
I personally consider this to be like Samson identifying the main target area and then further surveys/modelling are conducted to design the drilling programs.
Early targets always end up looking a little different when all data is available.
The other thing that John mentioned is that they cannot drill while the survey work is underway and I think this will be continuing for another week or two so I now wouldn't expect any drilling before Christmas with the additional survey work going on.
I can understand the reluctance of the company to not provide more definitive information until they have refined the modelling (as they have always shown they do not want to misrepresent material provided).
I am in investor (maybe a little bit of sitting back watching in amusement) waiting patiently for the company to provide information when they have collected ALL the information they need to be able to advise us of what comes next.
IMHO When an announcement comes out stating "Compelling Results from Geophysical Surveys" and a further announcement comes out which indicated that refining modelling work is being conducted I would expect that from January February when drills are spinning things will get very interesting.
I'm not into predicting what share prices may do in the short term but would not want to have taken up my full holding before things start moving - whether this follows an announcement of tantalising targets or actual drilling getting underway.
As Gold Bunny said - The market gods affording us one last opportunity to get on board or top up before the next SAMSON announcement shoots us to the stars.
For many of us that have invested in junior resource stocks for many years we know that we are still in the very early stages of multiple prospects (and St George has only had Mt Alexander for less than 12 months) - but boy is it shaping up nicely.
As helmenesh implores us regularly - patience - patience.
I was once at a trading/investing seminar and one of the wise (mature - even older than me) presenters made the comment regarding the difference between traders and investors - he said that traders need to be always making moves - investors can watch on in amusement - and the best thing that an investor can do is to lift up ones left buttock and place their left hand under it - then lift up ones right buttock and place the right hand under it - and stay like that until the asset has reached its full potential.
DYOR and GLTAH
Cheers
IO
(20min delay)
