Low MC shell with 3 projects and strong upside., page-153

At the end of the day, just need to look at MAN which is much further away from Julimar than OAR, but actually doing things like rock sampling to see how they are leveraging of nearology, and what that is doing to its SP. OAR needs to actually do something to actually get the market interested in what they are doing, or at least allow the market to know it exists.

Nearology, doesn't make a discovery by the way. 1 in 100 exploration plays ever get to mining, but nearology at least should give you an incentive that something maybe there, albeit 10km from a 'potential' mine is still a long way in geological terms in the sense that the same geological event, i.e. if that is the case here, actually leads to enough concentration in the various tenements over that geological event for multiple mines to arise from that event (albeit that does happen, at times, so it is a question of where and which lucky bugger has that tenement if that is teh case). Having good prospects is meaningless at this end of the market if they are not drilled to see whether something is there, or at least some form of magnetic surveys done or rock sampling done to start testing the waters. This is where management earn their money - getting things done, whilst not significantly burning through cash, and then hopefully raising at a higher SP by actually finding 'something' despite that something then needing more work and resource definition to see whether it is viable or not.

Having said that took a small position here based on prospectivity alone, not management performance to date btw. Will average up, if I see some movement at the station in terms of 'activity' been done over the prospects. At this price seems good value provided managment actually start doing things - if not, well not much downside here given where SP is at if you take out a small investment.

Risk only what you are willing to lose here.

All IMO