My take on todays announcement was that it was very positive indeed!!
This is the part i was most happy to see put in print,
The objective of drilling in to the Glen Rose was to determine the nature and type of porosity. While not a primary objective, this outcome further validates multiple Glen Rose geophysical anomalies that will be drilled in subsequent Yellow Rose locations.
They are practically telling us that this field will produce from what they already know and that they are already planning further drilling on this prospect.
Further drilling would not even be talked about if indications from the Edwards Formation was not positive at this stage.
Todays trading was not a sell off by any means from large holders. A few small trades went through, proberbly from people a little dissapointed that they have decided not to continue drilling through the Glen Rose,(similar with Leadville with GDN) or a few people taking the opportunity to take a profit. Good on them too, as AZZ has had a remarkable run up to date.
Personally i`m still holding on for the wireline logging results to come in, this is when i feel the big money will be made from holding Atares for quite some time now.
All the best to holders,
Regards The Tinhopper
AZZ Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
