If hole 8 doesn't produce results, the share price will drop but...

If hole 8 doesn't produce results, the share price will drop but it is not going to make or break the company or make or break the project.

Now the company has $30mill to spend, a drill plan and multiple rigs, we can expect that they will stop reporting hole by hole and release in batches, there is no reason to report a single hole UNLESS it is mind blowingly different/better than what the other holes have been and helps tell the success story, IF that happens, the share price will explode, that slowing down of news in itself will present a trading opportunity for some.

They seem pretty much committed to spending the $15mill, assuming that holes 8,9,10+ are not all dusters, so there will be a fair bit known about what they have in the ground over the next few months regardless of what happens with hole 7 and it is a VERY significant target, mediocre success could still be very profitable.

It is now just a matter or placing your bets or removing them, depending on whether or not you think there is something there or not - the market is going to jump around based on news / no news and all sorts of other rumors, so you can make your choice on if you want to trade the short term fear/greed v sticking it out to see if they are onto something, but even if this whole project is a duster after they drill a few more holes, then they will still have about $25mill to spend on the other targets and projects, so we will still be cycling through this for quite a while yet.

The current share price / market cap is not too bad, the potential upside with the cash they have and the projects on board is pretty good when compared to the potential downside, so we are probably going to be around here for a bit before we go way up or eventually slide down a bit more, but sliding downs is not a bust, it is just a loss on speccie.