While I am enthusiastic on Andewa and FNT generally, it is way to early to talk of tonnes and grades in any context other than target. The market rarely gives significant value to targets so seeing sp drift while waiting for more results is not unexpected.
A geophysical anomaly is used to target drill holes, not to determine tonnes. Close reading of the reports, not just grades and lengths tells the story.
First dh hit grades in a breccia zone and low grades about it, then low to no grade material down hole. Breccias are limited in extent and it take several dh to determine tonnes. DH 2 hit a series of grade intervals separated by zero - low grade material. The presence of deep geophysical anomalies is of limited value to FNT other than attracting a JV partner with deep pockets. If FNT cant find grade material from surface to 200m down it will struggle to develop anything with grades below -200m.
The only thing connecting DH 1 & 2 is geophys anomaly, jungle and geochem (sortof).
Management comments to it being a porphyry system gets me keyed up to read reports, but the world has many mineralised porphyries, only the higher grade ones in stable, mining friendly locations can raise funds for development
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