The market response to this announcement is unfortunately not surprising. Most recent TSO announcements have been good (or very good) and did not cause any increase in share price. I was wondering what a mediocre announcement would cause and I have now the answer with a 10% drop.
Off course it is a bit upsetting to see the mineralisation potentially closing out in the South East of the project but we can't really blame the team as they managed to find and drill great targets first. I think that with more drillholes outside the main mineralised zone in Ternera, we will unfortunately see these kinds of announcements at some stages. However, the fundamentals are still excellent and with all these previous good looking intersects the MRE will look pretty juicy and will hopefully bring some new buyers in the game.
We also need to remember that TSO has a lot large untested targets with soil sampling and GAIP survey showing some great potential.
TSO Price at posting:
16.8¢ Sentiment: Hold Disclosure: Held
