As others have mentioned, results nothing to be sneezed at but market appears to have been expecting more. Once again I'd assume a few traders were expecting a run like the first Webbs run and when it didn't come, they exited.
The way I see it, LDR is 2 for 2 so far with their project exploration:
Webbs Console:Decent hits demonstrating fertile ground. Even if the first lode they were targeting doesn't end up the main gambit, they're still pursuing multiple targets after reviewing Phase I drilling results, mapping, sampling and studying historical literature. 67 historical workings and mineral occurrences have been identified and are yet to be properly explored by LDR. 10 of these with a history of high-grade production and are Phase II drill targets.
Trough Gully:Decent hits and at shallow depths. Just need these results to keep replicating for scale (as others have mentioned). Despite being brownfield and producing high grade copper back in the late 1800's, Trough Gully has never been drilled till now. Phase II drilling set to follow up after down hole and surface electromagnetic surveys have been completed. Plenty more results to come.
On the way:Uralla Gold Project:Last but not least, Phase I drill results from the Uralla Gold Project are expected to be announced this Quarter. Once again, a brownfield project with good prospects.
All 3 projects are in their first stages of thorough exploration and the story so far appears promising (even if the retail market doesn't think so). I single out retail market as the broker data seems to show pro accumulation as per
@Akdjnr's post earlier in the month below:
Bring on Uralla results.
