The problem with this approach is that by the time the MRE is announced most of the value(of MRE) will have already been priced in with each assay. You are minimising risk however along with it the reward. If you can interpret and quantify to a reasonable accuracy what the results are telling you quicker than the market realises, a lot of the risk is mitigated while still maintaining that reward. Take DEG's Hemi for example. Still no MRE however their MC increased tenfold in a few months based on drilling assays. It's doubtful they will see the same returns in such a short amount of time going forward once the MRE is confirmed. They are sitting on a significant minable deposit that is more or less confirmed to a various degree.
We still have many meters to drill before we get an indication of the scale at play here. We've had a good run until now and admittedly didn't think we'd get where we are so quickly. A pullback was bound to happen eventually however that doesn't mean that only an MRE will push us up above the current highs. We can expect news to start flowing more readily once the cores can be assayed in Santiago at the end of this month. Yes, we've gone higher on speculation that these holes will return mineralised however at this point that isn't an unreasonable assumption. Confirming these holes will add value as I imagine there is still uncertainty priced in surrounding these assays. We are also drilling at a rapid rate with 2 rigs running 24/7 + additional rigs shortly with no end in sight for our drilling program. Had the drilling program ended then it would be reasonable to assume that share price would stagnate.
Further, there are a few holes in particular that have the potential to add significant value. Drone Hill assays if mineralised will have a significant impact on share price/MC. Same as the further extensional holes to the south and It's likely we will get these results prior to Christmas. Detailed met work will start shortly with an update likely prior to end of year. I imagine early next year will see a few more IP surveys at various other locations which will further indicate the potential here.
As long as the company activities are progressing efficiently and effectively, we will continue to add value. The market will overshoot then undershoot however the general trajectory will be upwards for the foreseeable future based on the project we are sitting on, the track record so far and the activities planned for the new year.
