Happy with these initial RC results for what is shaping to identify a gold mineralised discovery. Cannot understand the sell down expect for the fact of some panic selling, ST traders exiting their position, LT holders expecting a rerate after this announcement and disappointed with SP.
For a sub $10M MCap company with one of the best nearology plays also hitting gold intercepts open at depth and along strike, there cannot possible be much downside risk with what has just been discovered.
These results remind me exactly of early Brogla discovery, where DEG results were nothing to celebrate at first. The ones who got in early soon found out how each target would eventually overlap and continue at depth into what is now called Hemi.
Average depth only still 90m with much deeper to drill and prove down-dip and lateral continuity in fresh rock. Not looking for super high grades in this region, seems to be about bulk tonnage, moderate grade zone with deep extensions that will provide confidence in a greater discovery.
Not excited about seeing the SP currently where it is at, but acquired another parcel today and still a strong buy in my opinion
NAE Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
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