@McQuade ... "
The odds of success are low. It's difficult to find nickel deposits, that's why it's trading at 6c."
The odds of success also become less when you poke more holes into an area without finding anything. They have poked over 390 holes in this area and come up with no MRE.
Of course they have poked holes in the most likely places first, as determined by all the geophysics, then the less likely etc etc.
I think the Paterson area looks better for exploration, because it is real greenfield exploration.
St George tried to do a MRE on the best area, Stricklands, but came up short. Now they are going to try and drill a resource in the second best area, Cathedrals, but note they are only going to drill 20 holes initially, they are not doing a full drillout, most likely IMHO because they already know the continuity is just not there, as shown by the drill traces displaying misses only 5m away from 'hits'. (look at cross section in drilling announcement).
It's interesting how the market, is showing it's LESS likely they have anything at Mt Alexander, while the majority of posters here think with all the known past results the odds are becoming MORE likely.
@McQuade ... "
You're clearly a trader, not an investor."
So are you if you just bought your shares on market!!
Investing is putting money into developing something hoping for it to return greater than capital applied. Trading is buying something hoping it's value goes up.
Buying shares on the market is not 'investing' in anything the company does, the company does not gain anything from your capital, only the person that sold you the shares, but people like to fool themselves by thinking it is investment, because they will keep it longer than a trader.
Buying IPOs, SPPs, rights issues etc is about all the investing people do, the rest is trading, buying an existing share, not putting cash into the company..
Just because you buy a share then sell it after 10 years makes a person no more or less a trader than someone that bought and sold a share after 10 minutes. The actions and benefit to the company are exactly the same, none.
(20min delay)