Quite simple really, what they are saying is they believe they...

Quite simple really, what they are saying is they believe they have a robust project based on assumptions, but until the report is completed the numbers cannot be given to the market, because certain checks and balances need to be done. This all takes time, particularly when you talk holes in the ground, location etc etc, as this is a specific location project.

When the financial information about the project is released, I/we hope that the market will re-rate the stock.

Until then the market is, yawning, waiting and it is drifting lower. market volume is small....

This is what happens to these spec stocks, seen it over and over again. Whilst short term it is frustrating, its a longer term story.

From a technical point of view, I would not be surprised to see this test 20.5cents again and making a double bottom before moving away again. Selling will be exhausted before we will see strong moves up.

Having said that I bought this for the medium term on fundamentals, but the technicals give me top up opportunities.