I can only take this as a very positive development for the following reasons
1 - Drill bit would currently be around 4100ft (past Seabee; but not at Nanushuk yet)
2 - Nanushuk is the primary target; Seabee the secondary
3 - Given the drill is through Seabee; it must have encountered hydrocarbons which they're currently doing final numbers on & putting together the news - hence the TH
Otherwise why would they place in to a TH when the drill hasn't even started to go through the primary target.
If there was nothing in Seabee; then they carry on drilling & trading until they approach Nanushuk; being the primary target.
I don't see any other scenario making sense...
All will be revealed very soon; but this is how I read it.
RMP Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
