Hi hotuna,My basic take on the situation:obviously the lack of...

Hi hotuna,
My basic take on the situation:
obviously the lack of big results from depth after the initial expectations(due to the promising cores) was a massive hit.
Naturally we were never going to hold that 40-60c range.
Add to that, the performance and lack of interest in all gold explorers across the board.

The most recent set back though is the confusion surrounding the MRE release. General expectation was that we would see 500,000 - 800,000 ounces at Crusader Templar so you could imagine how the market reacted when it came out at 175,000 ounces.
Some people seem to think that the whole resource is 175,000ounces and that’s the end of it…big disappointment.
However, it turns out there just wasn’t enough infill drilling to place the majority of the resource into the MRE(hence the exploration target). Plus the company used a 1g/t cut off grade rather than 0.5-0.6g/t for open pit.
They probably should have informed the market of those things prior to the release so everyone had a better understanding and adjusted expectations.

That being said, I think we would have seen a sell off regardless after the MRE release with investors knowing that EOFY was upon us and not any immediate news flow afterwards.

Personally, I’m excited about being able to buy again at this price and see it as an opportunity. I’m free carried through my whole portfolio thanks to CNB and NXM…. Will happily take some more here over the next couple of months.