You've missed the irony. The point wasn't about expecting index-like returns, but the fact that even an index managed to outperform this explorer recently. What makes this particularly shocking is that this underperformance happened despite the company spending over $10 million, seemingly with no noteworthy drilling results to show for it. When you see other ASX minnows drilling 3x the holes for potentially a quarter of that capital, it really highlights questions about efficiency here.
Having been around the block a few times with tickets like SVM, RTR, NWC, PDI, NEU and others at the lively end of the ASX casino, you definitely learn to tell the difference between genuine patience, fair enough negativity, and then that... well, that special brand of undiluted, almost religious optimism you sometimes stumble across on boards like these.
Seen it all before, of course. Brings back fuzzy memories of the buzz around ADO, or OBJ perhaps? History seems to whisper that while that kind of pure, unshakeable hope feels fantastic, the actual drill results sometimes have a rather sobering effect. I find it helps to keep my boots reasonably close to the ground, even when the hype is aiming for Mars. These boards have had often zero posts for month and I and a few others were perhaps the only contributor so saying I am a negative Nelly here is doing yourself a disservice.
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