Ann: RIU Explorers Conference Presentation, page-39

Things change, delays and breakdowns happen, we can only guess. When the MD says on 13th Feb in a pre-prepared slide presentation that a rig has been organised to commence byMarch, it's because they have it organised and mobilisation underway.



Similar to how the rig was deployed to Javelin during December, getting ready to commence drilling


But the market was only notified once "drilling was underway" on the 8th Jan.
Reality is, contracting a rig is done in advance of it mobilising to site... mobilising to site and setting up a rig to site takes time before rods are spinning, so the company is aware many weeks in advance when the rig is due, then when it starts driving to site, then when it arrives and sets up, and then when it starts drilling obviously. The early planned date can be thrown out by delays, but the company will be kept abreast of these delays if/as they occur.

The company can choose to notify the market when a rig is being mobilised to site (ie driving from last job or home base to site), or when it arrives at site (everyone knowing that still means a week +/- to start drilling), or when drilling is already underway. Company's choice what and when to say. DRE once hilariously announced drilling first hole underway with picture of grinning geo next to smoking rig more than a week after another poster had been tracking daily drilling progress mapping the drill pads on Sentinel Satellite images

There are no rules about having to notify the market. I'm not accusing anybody in particular of leaking, and there may have been no leaks what so ever, but you can see the value of knowing when a drill rig is travelling to site given the market likes to jump on a stock that is about to spud into a hot target in case there is a discovery and multi-bag potential. It's a no brainer from low starting price, been a strategy been prevalent in the oil industry for ever, and one valid trading strategy is to sell out after the news the target depth is about to be tested but before it actually is... just lock in a short term profit with no risk of losing money caught up in n a gap down on target failure. Even better if you have contacts with real time information of drilling outcome, because you can ride the stock longer for multi-bag upside for success but with very goods odds of selling out first before market is notified of disappointing results.

This is market action 101, relevant for all junior stocks not just NWC, and a big reason technical chart trading is so successful. Doesn;t require any inside contacts or superior technical knowledge, just follow the price signals provided by those who are in the know. It's with the above logic on how information disseminates into the market ahead of official release that i found the share price action of NWC curious since mid-December when the decision to move rig to Antler rig to the highly prospective Discuss target (shallow IP target first I presume).


Shares rose from 3.4c up until the 8th Jan when "drilling underway" was announced, the bump from traders jumping on up to 4.8C intra-dayhigh on the 8th was promptly sold into from traders taking easy profits, then sideways at 4.4c for a week while drilling that first shallow target. One week later the share price inexplicably crashed below 4c on no news Over one month after the that crash below 4c, the share price tumbled again down to 3.4c from where it all started mid Dec when the green light was given to move rig to Discuss. Probably just a coincidence, just that a cynical old dog like me has been trained by Pavlov to react when the share price bell rings...

GLTAH