The Stavely Minerals share price has technically been oversold,...

The Stavely Minerals share price has technically been oversold, down nearly 60% from a year ago.

Factors contributing to the share price decline relate to,

• Wet unseasonal weather delaying exploration drilling until mid-January 2023
• Land access from the farmer
• Mobilization of drill rigs to the exploration site
• Local and Global Inflationary price escalations impacting labour, consumables and equipment costs
• Difficult ground conditions while drilling to 800 metres depth such as drill rod jamming, structural off-sets and zones of intense clay alteration.

The ongoing discovery drilling program to pin-point the elusive Cu-Au Porphyry is what everyone is here for.

Things to look forward to are,

• Regional exploration activities for the past 3 months yet to be reported from Air-core drilling. This includes Narrapumelap soil auger Rare Earth Element (REE) Anomaly drilling and Junction 3 air-core drilling
• Assay results for Drill Hole SMD185 to be analysed and reported, only daily drill log report provided in 12 April 2023 announcement
• Additional drilling in progress relating to SMD187 and SMD186 – now these could be all what we are waiting for!!!!

The science says the copper-gold porphyry is there, but it appears we just need to be patient for the positive outcomes yet to be un-earthed.

I decided to top-up today, thinking there is more upside than downside with news yet to be released, plus the volume of shares traded daily is increasing.