We certainly are and it's likely to be a very volatile year ahead!
This discovery is at the embryotic stage.
We're likely to get drilling intersections that send it flying as well as drill intersections below market expectations that send it back down like NXM a week or so ago.
If we're onto anything of size then the instos will want in so they'll manipulate the price down to create fear and selling, not to mention pushing the price down when a cap raise is required to get cheaper stock still!
But while all this is happening the picture will become clearer with each set of drill results and announcements as more is understood, the story will grow and hopefully the resource with it.
PDI is a perfect recent example of what can be achieved in 1-2 year timeframe from initial discovery hole to multi million ounce MRE and still growing.
We are extremely luck to be in WA with no sovereign risk, close to existing infrastructure and surrounded by hungry mills within the area, which then potentially marks you as a takeover target to feed existing mills other mining companies own if you couldn't justify a stand alone operation.
That's a great geographical location to be in.
However if the gold is there and in abundance it's the end game you want as this is likely to offer the greatest reward and the biggest return.
Trading can be difficult...
You get caught on the wrong side of an announcement and you may never get back in again waiting for a retracement that never quite happens or you may get really lucky and end up with more stock for the same outlay.
Whatever you decide to do, however your trading/investing strategy is it's going to hopefully be one wild ride so strap yourself in and enjoy the ride for what it is.
It's a new year and it all starts tomorrow!!!
Cheers
KWR Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
