Nobody wants caution based on reality to spoil a rampers party....

Nobody wants caution based on reality to spoil a rampers party. Early-stage drilling for sure, over the best-defined part of the prospect, but it is what it is... underwhelming given market expectations imo. Let's dig a little into what was and wasn't conveyed to investors.

Only the one section (typically the best?) is shown, and that demonstrates modest grades over thin intervals.

Holes 17 to 19 drilled 'down-dip', meaning substantial thickness exaggeration of the lode. They came back with hole 31 to test the middle of the lode perpendicular to dip and only got 3m @ 0.7% TREO. &m and 21m above and below are exaggerated in thickness, how much depends on local dip variability. Probably the same issue with Y3RC006 being true width vs down dip while working out what the lode dip was...


As per results table, Y3RC006 4m @ 2.0% TREO is really 1m @ 7.0% and another 3m 0.36% of likely below economic cut-off grade. The holes drilled east on same section similar story. Y3RC002 9m @ 1.0% TREO is actually 1m @ 7% plus another 8m @ 0.27% TREO... also uneconomic and underwhelming. It's called 'grade smearing' in the business. Y3RC003 is also a shit result.



The other designated section of success (7347000) also potentially drilled down-dip has one wide, low-grade hole 009, a couple of better grade 2m holes 10 and 13, interspersed with sub-economic dud holes 12 and 14. Underwhelming, certainly nothing crazy...



DRE is a good story and good chance of being developed one day, but no damage done looking at results in a sober light. Accepting that not everyone posts banal, bull ramps is not just respectful, but might make you a better trader/investor one day...

GLTAH