Although good hits WA1 are still just an explorer...will take many more holes to prove up a resource.
Market knew these results were coming (although maybe a bit better than most thought) so today was the sell off of the long termers holding out for a good ann.
I'd suggests there's quite a way down for the SP to travel now until excitement builds on another set of results - is drilling in March? Means you likely have until June until any news will flow.
Only the brave stay here now.....a few good holes doesn't equal $80m MC.
At this stage it's just the 'hopers' taking a gamble it will play out as they want it to....smart money is elsewhere.
Ann: West Arunta Project - Significant Enrichment at Luni, page-116
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