re: birds of prey NIA & others (incl. me) thought that the second hole looked very good by the geophysics but no cigar with the drilling. It's not the end of the show by any stretch as the mineralised corridor was still in evidence at the ultramafic contact & some sulphides showed in the core. Perhaps the BIF or some black shale unit was giving a false signature which happens.
The market seems to have taken this hiccup in it's stride. Perhaps some accumulation by predators hedging their bets? Who knows but the price is holding up. Restating the WMC hole is just standard spruiking by corporate to cover their disappointment & keep the punters upbeat about future exploration. Still a very interesting play in my books with excellent upside.
One of my mates was speaking to the corporate blokes the other day & informally they are hoping for $1.20. Probably so they can raise capital. Typical.
Hardrock.
NIA
niagara mining limited
