RE: Bottoms?3 Oct 2023 15:39
Tro,
Not expecting TD yet, whilst an issue with the drill can't be ruled out, they aren't drilling to any great depth and have an appropriate drill this time. Even if there was some issue that required remedial work, the SP is low enough to accommodate such news without a significant drop. Plus there is a second drill to come, which i understand is financed, so that offers some cover.
That said, as ive mentioned before, i think they have mishandled the entire situation in terms of the SP, events and news flow have felt contrived at times.
There isn't much on the chart below 5p so its into relatively uncharted territory. It's a tense hold for me as i dont have faith in the management team. Risk/reward is huge at this price if they do hit.
Lorna tweeted a picture from a local school earlier, If there was some issue with the drill surely she would be onsite, not out on a field trip.
That's my thinking.