Ibby,
On the contrary.
If nothing hit, you do not go from a 5,000m to 15,000m campaign.
The plan was two rigs, reading between the lines this will go to four.
You also do not cram an extra 10,000m into the same time frame.
If nothing of substance hit shallow, considering the pegmatites are surface down, you certainly do not expand you're drilling depth.
What most likely has occurred, they put hole one down, cut through pegmatites.
Ran a second drill under hole one and got same width or better.
If the second hole was NSI or intercept less, you would know the lode at that spot reduced.
You would not go deeper there as closed.
There last announcement, 5 holes were drilled.
Those 5 drills would not be deep based on time, at least 2 locations, maybe 3 along strike were tested.
At that point, it was decided most likely, we need to get more holes down faster and follow the depth.
Shares at 3.2c in the mix is irrelevant because come end Nov, the extra meters difference in strike could be hundreds of meters more and depth 100m more at least.
With 5000m, they maybe deliver a strike of 300m at best and depth of 125m.
With 15,000m, it is potentially more like 800m strike and 250m depth.
If so end, result is over 100% larger.
If they get 800m strike across zone 1,2,7 and 250m deep and open, that is already a large resource early.
The 10m raised will certainly have been spent well.
They have 15m, excluding options. The could fund 25,000m and still have cash.
I personally was disappointed at the initial 5,000m as I considered that underdrilled.
Even at 15,000m it will still potentially leave strikes open, as 25,000m plus is needed
Also it is interesting they have gone with DD from the onset, versus some RC.
There is no news, because lab's take time, also cores need to be logged, at a Max 3m an hour and also cut in half.
Another area maybe Rinehart. Raiden is, better giving nothing away, and when they do provide an update, is lay a full hand out.
The danger is partial results maybe enough for Rinehart to move on raiden, before the market appreciates them.
I mentioned spectrum, they put deep holes down at pennywest, gave enough info to the resources potential.
One day after a litigation ceased, ramelius pounced.
Ramelius did not just decide, they had plans to takeout soectrum, but waited.
Here, azure will already have worked out raidens value if they get X result.
One give away is that sawed peg sample, it was found between zone 1 and 2.
Not on either zone. Meaning pegmatites exist between those zones.
It was highly crystallised, exactly the same as azures samples.
The price coming back has basically allowed retail investors to buy at soph prices.
I flick over 99% of exploration reports as average, but with raiden, same as when azure was trading, something special exists.
Many years ago, I bought deg for a few cents, the markets did not like them, but I saw hole after hole, and deep just open. That was pre hemi
Am I right, not always, but having been in the game for nearly 40 years, I easily spot all the good geo hallmarks early, that many do not see.
The architect, discussed, Elliot wave. He is correct because I noticed a change in trade and market depth on Thursday.
Charts determine what investors do, investors seem very supportive presently.
In the backdrop, the lithium sector is, turning.
Cxo and sya are stable now.
Rio is on the move into lithium also.
Big companies like rio, bhp, have a canny knack of moving into sectors at just the right time, and often just before change occurs to leverage recovery.
If so, raiden has two things.
1. Results.
2. Sector recovery.
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