"Every time DRE release drilling results, you dive in quick as can be to talk them down. Every time."... not true at all, I'm wounded to be so misunderstood and maligned. I get people want to shoot the messenger and need someone to blame, but allow me to defend my actions.
Last 3-4 months, I only post on new releases last half of the trading day after the stock has had time to run (please go back and check if I'm lying). Out of respect and for the benefit of long-term HC holders, I'm happy to let hot-money traders run the price so you guys can take profits, reduce your average buy cost, reduce losses and generally set yourselves up for better long-term risk-reward position (for those that way inclined). I see the morning releases of course, but deliberately don;t throw my cold bucket of reality onto it until the more sensible holders have their chance to profit from buying the last dip, and with enough time left in the day to act on my opinion if they were still undecided if news was a genuine valuation change or another pump and dump.
Doesn't matter if most here think I'm a paid downramper or whatever sort of nasty and would never act on my opinion, it only matters that I'm comfortable with my own actions and opinions. Fact is, market will take the share price to wherever each news release deserves regardless of my opinion. How on earth are holders following the DRE HC thread worse off for my considered and substantiated opinion rather than only having inane bullish rantings of HC rampers and paid Twitter finfluencers to make theiur judgements (Wooweee, Bingo, Green Bulls...t)?
That's a rhetorical question. I'm on record months ago, repeatedly, saying at 5c the Mangaroon RE overvaluation had been stripped out from when I called it >10c on a rough risk-reward exploration potential. Kimberly is a cracking exploration project (location aside), especially after the soils and FLEM data Crutchfield outrageously front run days before it's release. It's not all doom and gloom.
These Mangaroon Ni-Cu... not so much. How about you do the maths of what size deposit running 6m thick @ 2% Cu and 2% Ni (composite of massive sulphide and footwall network/dissem) needs to be in the economic ballpark, then consider that size vs the conductor target and managements game of dicking around with DHEM (results in October) instead of walking the rig back 20m and simply drilling another cheap as chips hole? I'll do the math for you...
Even a small base metal mine in that part of WA will be running at $100Mpa opex min, so looking for $200Mpa revenue to get funded, 3% Ni-Equiv = US$500/t after recovery loses and smelter fees, = A$750/t @ 0.667c USD, so needing ~300ktpa plant with min 7 years mine inventory, or 2.1Mt @ 3% Ni-Eq. At 3.5 density and 6m avg thickness, a 2.1Mt deposit needs 100,000sqm footprint (assuming flat lying). 100,000sqm would be 2km at 50m width, 1km at 100m width, 500m at 200m width (or down dip). They are all large targets, smaller if HG blows out in thickness, yet the rig is sitting on a 20m x 10m conductor plate and management are too scared to just step out 20m and drill some shallow 80m holes to find out
. Don;t even need another drill pad, just walk rig around the pad, tilt the mast into different orientation and see if it has any thickness and areal continuity...
I'm only talking about quick, pragmatic target screening and testing as one might do working for a large company, not worried about milking results, downgrading the target or playing for time with an eye on the share price and next cap raise. I'm just an observer with no skin in the game and no reason to care for anything except the interest of making a call and helping my HC community make more informed decisions...
Time will tell... GLTAH
(20min delay)