Thanks for your email amigo. You have opened a can of worms and...

Thanks for your email amigo. You have opened a can of worms and so you should ignore the rest of my post because I will ramble quite a bit. I used to be a shareholder in ARL because I liked its emphasis on nickel exploration. However, when it announced a large-sized JORC, its shareprice fell, which was disappointing but seems to be normal for exploration stocks. (Therein is a huge lesson for us all.) I think it was soon afterwards that ARL carried out the spin off of GRL - I made the decision to follow GRL rather than ARL. Next, GRL produced a reasonable JORC for Lewis Ponds, and its shareprice has fallen since, strange that? In the last 12 months GRL has moved away from its gold prospects in order to follow the rare earths in NSW. It could be a good move. Maybe it will fire up the market when the drill results are announced, but only time will tell. I watched ARL spin off KAL but didn't get into it, so I'm not in a good position to comment on it. Also, the exploration in WA is different from that in NSW - for a start WA has much older geology, much bigger prospects and many more of them. But as a general comment, I would say that there are many junior exploration stocks on the ASX which have fine prospects, but it really takes a discovery hole to get the market fired up. But the flame rarely lasts - usually the market gets bored and moves onto the next best thing - this takes 6 months or a year after the initial discovery. I see many good stocks which have made a very decent discovery, then the shareprice slips away. They call it the orphan period. But I wonder what else is going wrong? The infill drilling definitely takes its toll because it takes an eternity and there is a terrible impatience in the market. So these are the circumstances that we find ourselves in. IMO, investing in junior explorers is exciting but it is a very tough business. As shareholders we need to recognise how the system works and how the market operates. We all make mistakes and we need to learn from them. Company announcements are excellent guides which we should read very carefully. Have a good weekend.