It appears to be a holding pattern waiting for drill results....

It appears to be a holding pattern waiting for drill results. Most of the buyers that want in before the Burmeister drill results have probably bought because they were expecting them around, if not potentially before now. Most of the sellers that want out before the Burmeister drill results will have sold because they could drop any day. That situation is unlikely to change much until the Burmeister drill results come out.

There's some presumably day traders that push up the intraday queue volumes but disappear after close.

What we do know is that as at 18th June drill pads were being prepared but none of the infill drilling had started. TG6 had a 19 June conference presentation pack and in the presentation noted Jaegermeister drilling having started today. Its unclear if Burmeister had started after the satellite pass of the 18th or the 19th. Either way, they didn't have many days drilling until the 23rd June satellite pass.

At Jaegermeister TGRC1001 to TGRC1004 for 631m had been completed so the 23rd June satellite pass. Drill rates appear to be sub 200m/day.

At Burmeister there's 6 clear drill holes that appeared between 18 June and 23 June in the satellite picture below. There's also one presumably short hole to the south and a possible to the north. Unless TG6 had the Burmeister rig double-shifted, the drill halo's seen by the 23rd can't have involved massively deep holes. The satellite image below has a pre-drill shot (3 June), 18 June (pre drill and pads), 23 June (drill halo's appear) and 28 July (some infill drilling). The infill to 100m drilling between the rectangle of halo holes strongly indicates that the halo's are mineralised because it would be highly unusual to do infill drilling in an area with expected dusters.

Other than that, we wait.