Minerals explorers are usually many years away from an initial...

Minerals explorers are usually many years away from an initial survey to mining. The market has fairly well developed ways of rating them in the interim - possibly not the case here?

Hopefully we are able to trust the company in their announcements and they are able to communicate the progress they have made and risks involved clearly and honestly. There seems a bit of ambiguity in the announcement but I guess it can also be looked at as keeping expectations moderate. Hopefully they won't be so modest when it comes time for raising cash.