Genuine questions here for anyone that bought at 6.5-7c and has sold (other than TA flippers) - what was the thesis of buying?
They have drilled 2 holes at Rana that hit in line with the historic grades 20m away from each of those holes. They confirmed historic data, it's a nothing burger. Was 40% of our EV actually hinging on those holes? They haven't even drilled the anomalies defined by recent geophys work. Those holes are the ones that have a small chance of being a step change. They could miss too obviously.
At the end of the day I didn't think Rana was worth $10m of our $20m EV and certainly not based on 2 holes 20m down dip from historics that hit same widths and grades as expected.
Ann: KRM Reports Drill Intercepts at Bruvann, Rana Nickel Project, page-13
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