So what's happening at Doolgunna? - if anything that is. The 2 relevant anns are 29/6 and 5/8 and imo they need to be read together.
The latter implies that air ore drilling with follow-up RC was about to start. In my opinion, it would be beneficial for both the company and the market to know details – when, where, what and an estimate as to how long for results. Many explorers do it, but not RNI. I have heard of arguments against this sort of thing though including that it encourages speculative trading which could turn out to be detrimental in the long run if the results are no good. There may be a point to that, but imo the goodwill that informing the shareholders brings far outweighs that pov. So why does RNI keep the market in the dark? It does a dis-service to shareholders imo.
The info in the 29/6 ann is very informative, including the identification of the priority targets ie Maguire in the Nth Corridor, Marty’s Patch in the Central C and both Ross’ reef and Tony’s Find in the Sth C. The narrative though is suggestive of Maguire being the one most ready for drilling - straight away in fact. “Testing the Maguire-G2 target will require a deep (200-250m) reverse circulation (RC) drill hole.”
Can we therefore infer that drilling at Maguire started some time ago? Can we infer in fact that drilling has started somewhere? It's unfair on shs to be left guessing as to what is happening. That said, if it has been happening, then can we dare think that some nice assay news is around the corner?
LSR keeps the market informed on what is happening drilling-wise. The market likes that. The BoD of RNI has to catch up with the times. It's being left behind and the market has spoken. It doesn't like being taken for granted. It wants to be informed too.
AUR Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
