This is a confirmation drill hole to prove that there is...

This is a confirmation drill hole to prove that there is consistency in the initial drill hole. That is now proven. They now need to step out in every direction at 50 or 100 mts to see how far this extends and in what direction(s). Until that initial step-out is completed no-one knows the size of this porphyry. And then they will need to step out again and then infill drill. 3-5 years of drilling with probably multiple rigs to prove a resource.
The grades aren't spectacular. A few people have noted 500mts is deep ,and it is, you have to cave down to 1/2 km depth and then block mine. Not cheap, so understanding the cost of that is also key. In saying that I was recently in a miner (RMC) that struck a massive copper/ gold porphyry of 2% plus copper equiv and grading up to 4% starting at 1000mts depth. That is now owned by the Chinese major Zijin who are building that mine. But they also struck a high grace epithermal sulphide deposit that more than pays for the cost of building the mine. At this depth I think Alkane need to prove this extends massively in length/multi directions to show a circa 5m oz deposit minimum to make this truly profitable, or strike a higher grade deposit with the drills to fund the cost of the mining. Higher grade suphide/epithermal deposits often sit astride the porphyry deposits. There is a correlation with the ALK deposit and RMC. RMC sat near the massive BOR mine in Serbia and was part of the same massive regional mineral area, very similar to the ALK and Cadia scenario. So I'm here for the medium-long run to see what they can find. If they do prove this up and Boda is econmic it could be a ten bagger from here, ripe for takeover bids, and the downside risk, other than short term market noise appears minimal over the short term while they try and prove this up and with the imminent split of the rare earths into a separate entity also an added bonus. I'm a bit torn between taking some profit around this $1 area and trying and accumulate more if it dips further.