I don't buy implied conspiracy theories about unreleased drill results.
Extract has already been asked about releasing drilling results towards the next resource statement, and they replied that that they did not believe individual drill holes results would be material to the market at this time.
You might argue with that (I might also), but the 30% resource upgrade that came out AFTER the first CGNPC takeover offer did not result in an increased share price, and therefore supports the company assertion that individual drill results are not going to influence the share price much any more.
In any event, the time to release further drill results is not now. It is if and when KAH takeover becomes fact. At that time, if the EXT directors believe that the offer price is too low, they can bolster their argument with new drilling results.
All my opinion, of course.
EXT Price at posting:
$8.49 Sentiment: Hold Disclosure: Held
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