JOGMEC exiting did seem very strange to me. I don't think it was in any way related to the drill result as they had only reached the point of reconfirming that there are shallow pockets of high grade, which was news to no one. It's what's underneath that is important, which we don't know yet.
My guess is JOGMEC wanted to reduce their expenditure, simplify things or redirect the exploration money elsewhere. There just wasn't the data available in the Red Mountan results to scare them off, I'd look for reasons elsewhere.
XAM Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
