My simple view, having been investing in Australia, Asia and UK for 20 years is this.
You do not get 2 CEOs/MDs (AW1 and BAY) putting their name to an announcement where they declare a discovery unless they are 100% sure.
As one or two others have posted there is a difference between a discovery that satisfies Geo's and bona fide, company making discoveries.
I am invested (heavily) in an Aussie based company who have declared a porphyry discovery in the content of their announcements. However, it is very much a geological discovery so at no point has there been am ANN to the ASX declaring a discovery.
The last 3 ANNs derisked this for me. The question now is not whether this is tier 1 or tier 2. All significant information we have to hand points to the former.
AW1 General Chat, page-1012
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