Mate, the Lachlan Fold Belt is white hot at the moment and there is renewed global focus. The belt has significant gold and copper endowment and both are tearing. Observations of my LFB watchlist are that everyone seems to be drilling and assay results are pushed out across the belt. I know of one player who is supposedly sending their holes to Perth for a quicker turnaround. It’s just the nature of this type of investment. It’s not unique to WTM and says nothing to me about the potential of the next assays to drop. From the last 25 years of following and investing in resources stocks I have spent the most time waiting for assays, closely followed in second place by waiting for a takeover bid! You just have to accept it and try to keep busy. I do this by reviewing all my and others research and trying to add to it. Hold your nerve mate, I expect news before the general meeting next Friday.
On another related note, I often read comments about the need to disclose info as soon as it’s known. The Corporations Act and ASX Listing Rule 3.1A allow for incomplete or insufficiently defined information to be held under lock and key until it’s developed into a complete form suitable for announcement. This allows companies to receive raw data, process it, create diagrams etc and put some analysis and words together for an announcement. Another example would be a flaky and highly conditional takeover bid or JV offer. Some peeps read rule 3.1 and then stop. If 3.1A didn’t exist, companies would literally have to forward the raw results from the lab straight to the ASX! The main reason 3.1A ceases to apply is if there’s a suspected leak and the company must halt and disclose. See 3.1A.2.
Not long now folks!
(20min delay)