Ask yourself, is Erongo a company that has bought proven resources with defined grades to go straight into a mining feasibility study - NO!.
Erongo is a greenfields explorer that has snaped up some great prospective land and now they will do some exploration on it. It just so hapens that there has been some historical drilling yielding some data in some areas of our tenements - which is a bonus and will help define NEW targets. The historical data announced so far is encouraging without being spectacular.
So why all the concern about only 2 diamond drill hole results drilled in the 1970's when "pot luck" was the exploration technique used???. There is plenty more historical data to be evaluated and we already know there are 21 defined anomalies that need follow up work - some of which haven't had a drill anywhere near them - EVER.
People looking at the 1 or 2 DD historical hole data are completely missing the point. If you must base your investment decisions on the historical data then at least wait until we have some more info.
Modern techniques and technology will ensure we have a small selection of high potential targets to drill very soon. I for one am not waiting until they announce a high grade strike as you can bet we will be over $1 probably even before the announcement.
Ground reconaissance with a scintillometer is happening as we speak and it will not be too long before we have some nice juicy targets to sink a drill into.
Each to their own.
ERN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held