The run already took place the day before the trading halt, and all those lucky people in the know sold at open for a huge profit. As usual the everyday person without the inside knowledge, probably bought early in trading today thinking this was going to go on a WA1 like, non-stop roll and they are now probably in the red. Early indications are good after just a handful of drill holes, but a lot more exploration is required to get anywhere close to what WA1 have. Small, scattered intersections at depth is not an indication of a mineable deposit. Having said that, after the 100-hole program in August the tenures will be de-risked a lot more. I suppose it depends on what people think will happen in the lead up, but the run has been amazing so far for what they have actually proven up, which is not sufficient yet to be cracking any champagne imo.
ENR Price at posting:
47.0¢ Sentiment: None Disclosure: Not Held
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