Ann: Progress Update Phils Hill Diamond Drilling, page-200

damn I wrote a whole post this morning which took ages to write up and seems it didn't publish! (sigh)

Second attempt but a little less detailed.

Not the stellar start we were all hoping for but that was always the risk and if the first two holes came back like Julimar then this thread and share price would obviously be completely different; there's always the trolls (some professionally paid/others just with no life) that come in before and after results with the I told you so's etc. but they didn't know any better than those of us who invested for the optimistic outlook and risk of it being spectacular from the start. Even supposed holders turned into chicken littles and trolls, full of confirmation bias.

Personally I didn't think the results were as bad as the market has made it but the market is mostly a reflection of traders on a day to day basis and a reflection on the psychological mentality of those buying/selling. Whilst PUR wasn't over hyped leading into the drilling, the share price wasn't over inflated, we still experienced a sell off with people in panic trying to get out and just other traders wanting out as they take the loss and move on to something else since results didn't create the rocket under the share price movement.

Today's trading has seen a nice bounce off a significant support level and area, with a calmer trading activity and more buyers than sellers and a strong close, to setup a nice Bullish Piercing candlestick pattern on the chart and that gap at 5.8c acting as a magnet now and I'd expect to see it close by the time drilling resumes end of next week and the share price back to trading at previous 6c range in anticipation of further drill results and DHEM surveys.

Seemed to me that they drilled and it's more a matter of finding where to drill to get those conductors...matter of when not if...the if will be how good and big those hits will be once they get on it. Hopefully the other targets have cleared up from the rain and will be able to get to since those were the more enticing targets but were inaccessible at the start of drilling.

A green day and decent volume on trading, my focus is on the weekly chart even though that it a more lagging indicator, it's still for now showing a downtrend but wanting to reverse, but will need fundamentals to back that up for a complete breakout run. Daily will move sooner and provides the better entry, which for me I've been happy to further add today in the mid 4s and will look for a Weekly Chart close of at least 5.1c to give a nice Long Legged Doji candle, which is a very strong reversal indicator at the bottom of a downtrend or above 5.1c will be a hammer, another strong reversal indicator.

Will post a weekly chart end of week if things pan out how I'm anticipating.

End of the day it's all risk which each individually needs to analyse for their own self.