whilst the price action of MMB today is disappointing, today's announcement is hardly surprising.
for those who have bothered to look at the announcement, and the diagram in Figure 2, the 2nd drill hole is at the southern end of the target, hence, if there is to be any 'low grade' mineralisation, this is where you would want to see it.
Drill holes 3 & 4 are right in the guts of the target zone, so this is where you want to see the significant Pt+Pa+Au grades.
The equation therefore with this stock becomes simple, despite the $6-$12 targets that were based on 'ifs' and 'buts'... "if" I dug a hole in my backyard and struck 3% Pt+Pa+Au, then my house could be a $12 stock too."
The equation now is:
1. if you are prepared to have a punt, then MMB at 60cents represents a cheap entry price to triple your money on a strong Hole 3 & 4 result...
2. if you less inclined to take a punt, wait for the Hole 3 & 4 results, and make up your mind then. Any result similar to the grades of Hole 1 will see MMB crack the ton again. A result like today's, we bring it back to 50 cents.
Its not that hard when you think about it.
MMB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
