The announcement was a double edged sword.
Great long term as a JORC drill is great for market cap.
However, drilling starts in Dec and is expected to be completed in March (and we know how fluid projected dates can be too).
I believe that WITHOUT the announcement, we would be higher on open. Some folks don't want to have their cash potentially tied up for months and bought in expecting a quick sale. Potential lack of news going into drilling might also suggest to some investors that the price might retrace and to take profits now.
On the other hand, this could just be pressure to get a TO quicker. Best bet in my eyes is to hang tough longer term and weather the retrace if it comes.
Running Commentary on the SP Movements., page-1714
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