My gut feel is that they still feel confident of finding what they have been looking for at AP eventually, but the drilling may have been a little elusive, hence the additional drill targets but as you say a lot of that might be in AP may well be in the price. However, they are ramping up at RR and I think this will drive the price one way or another in the short term more than AP. I also think weather (rain) has been a massive issue in getting all the drilling done and then transported to the lab so this has impacted the timelines too I reckon.
Medium term we have Wonogiri, Trengalek and Mt Clark West but we'll need a lot more patience on the value add here.
Just checking the announcement on the extension and it seems well supported vs the original target raising ($2.8M so far vs $1.5M target?) unless I missed something.
Either way I'm in pretty deep so as long as the price/value either stays roughly where we are now, or goes up, I'll be content and then settle in for the medium term.
Let's see.
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