Today's results were below average. If your drilling results from an area only bought these sort of results from today you'd just move on.
It just suggests to me that the mother load has been hit with the large double digit and triple digit results, and material has drifted quite a distance from there. Unless you do more drilling and find better results, you'd say this new strike area is non economic to mine at current prices. Not an expert - but drilling this area without other results to suggest something more to find - you wouldn't waste more money on drilling near these results. Spread the net wider somewhere else
Hence the plummeting SP. Was Friday FOMO? Maybe Was it a pump and dump? Maybe Both these options seem more likely than a leak now because those results wouldn't have moved the needle by themselves.
I'm still interested in a gold stock to go with my graphite mine - So I might buy in during the week. I don't think this will be a long term hold having to go through all the drilling and drilling then CRs to start moving pay dirt etc.
GBR Price at posting:
16.0¢ Sentiment: Buy Disclosure: Not Held
