OK, Knuckles, I'll bite at yoursimplistic 3 liner. Yes, the stock finished down because selling momentumexceeded enthusiasm to buy. Also simplistic and also unhelpful, eh? BTW ... was a very negative day across the market today, following significantfalls offshore last night. You overlooked today's 2.26% fall on the XAO as youput pen to paper??
Amid your whining, I do however agree that today's announcement didn't warrant aTrading Halt. IMO, a TH raised an expectation that materialresults were coming that needed more than 1 day to consider and to draft anannouncement about. Unfortunately, theannouncement in question looked to me to be 'within expectation' for 3 infill hole resultsat the top of the plunge, so disappoint almostinevitably followed. Perhaps thecompany would act differently next time …
I also thought the announcement was not easy to correlate to previous drilling results, and thereforeto form a view about. Positives about continuity in the orebody werelost to me at least while trying to work out, in limited time, the relationshipbetween current holes and previous ones. Hopefully another learning point for the company's next announcement ...
It also became clear to me that the forthcoming initial JORC assessment will not be complete for awhile, since:
* As fangulator pointed out – these are only the first 3holes out of at least 10 holes.
* In fact, I expect more than 10 holes because when you arefinding sections of ~19% Cu sulphides that's exciting and needs to be understood. Remember COR 90 had similar...
* Recent announcements reveal that DHEM is being carriedout. As Collerina is still revealing its upside, the current DHEM will lead to more drilling, more refined targets, or both. Whichever way, it will take more time. So be it.
I always thought the initial JORC number would not be outuntil H1 2019 – and I never wanted it earlier as I feared a misunderstood and incomplete piece of work that wouldundersell the asset. However the pace of activity could be causing disappointment– especially compared to expectation.
So, frankly while I wasn't thrilled about the circumstancesof today's announcement, that hasn't diminishedmy view at all about the asset, which I think will be a profitable mine oneday. Are we to be shy of having a positive view about a discovery because some, like you, call it hype?? Another misguided entry into the Australian dictionary of political correctness??
(20min delay)