Hersheys theory.Russel is acting on Hersheys theory, and the first hole offers some preliminary confirmation that this theory may have validity.
Websters version:
Theory: 1. A speculative plan. 2. A formulation of underlying principles of certain observed phenomena that has been verified to some degree. A conjecture or guess, often referred to as an educated guess.
So Russell and his supporters have put up 60% of the risk capital into his speculative theory. A theory that has one drill hole offering potential of this theory being validated as they progress. A ..20 cent per share risk to participate in the potential reward, or failure. Viewing this as no risk is simply foolish. Investing in any exploration venture is riddled with risk, that is why the reward is so gratifying when you identify a winner early.