I now know why ARD slumped yesterday! The results show promise but the drilling so far is definitely does not have grades to get the markets interest.
The way ARD reports assays should be scrutinised by the ASX. This adding Cu + Zn + Pb to arrive at a fictious figure that leads the unsuspecting to believe that it is some sort of percentage is misleading, to say the least. The fact that their report shows all details on the prices used to arrive at a silver Eq grade, but the report makes no mention of the silver Eq grades, should be a glaring warning that these grades are rubbish.
Below is hole AKRC267 using ARD's low ball metals prices they use for silver Equivalency. They do not mention a Cu price, so I used the default from Discovery Alert. For information, a dicovery hole is 50g/t Au in the Gram x Meter section. ARD managed 9.18 using their very low metal prices which compliments the actual figures.
ARD Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
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