A big problem with your line of reasoning is that it would not make sense to do what they appear to be doing if it is right, and they have more information than you do that could make you wrong (and other knowledgeable people disagree with you).
If you were right drilling Baobab would make more sense than drilling MK2, and would 'keep the dream alive' less expensively. Spending more money on MK2 instead only makes sense if it has a better prospect.
It seems a non (or less) deviated well in a better spot aimed directly at a better-confirmed target based on data collected is more expensive but has better long term prospects after re-tooling than another sidetrack from the same location that has given up as much as they are going to get from it for now, with materials they have run out of. In fact, if they could and wanted to throw good money after bad chasing failure another sidetrack would be a much easier way to do that.
What they are saying makes more sense. They found what they were looking for, a sample to be able to officially announce it would be nice but too expensive and difficult technically right now at this location and also not necessary to move forward with an appraisal well in the best spot for it, which they didn't know before they found what they were looking for.
IVZ Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
