FDR and news release etiquetteDaugaard asked the same question I’ve been wondering about for a while now: do drillers intentionally withhold holes with less impressive results until an outstanding assay finally turns up? Not that I could blame them if they did. Most explorers hardly get more than a couple of news release opportunities in a drill season, so the investor relations impact must be considered.
By contrast, on our stock, without a doubt we’ve become spoiled for quality and quantity of news flow. I am as guilty as anyone, impatiently awaiting not just the next set of assays, but also pining for news that a third rig has been bought and sent to sea / on its way up the river to Antino.
In a good property like we have, the powerful gram-meter reports should come often enough by random distribution that there is little need to disrupt or delay the normal flow of news. The 2-3 week assay intervals since July would seem to prove this.
Re: Donut and Eclaire, yes, it’s possible our crews find no high-quality results. If so, you can be sure they’ll move on quickly to Buese. But I suspect there will be enough encouragement in their initial cores that we’ll drill those sub-zones out sufficiently.
And any material enlargement of Upper Antino will proceed to cast a warm glow over the rest of our property. Whether or not it is geologically justified, how can an investor fail to subconsciously mark-up his estimates for Buese etc.? I know I will.
I’m currently collecting updates and adjustments to my resource estimate / target price model. Some minor negative notes so far, but those could easily be swamped by any upgrade of the Upper Antino sub-zones. Once we see what Donut and Eclaire might have to offer, I’ll be able to complete my reckoning.
Scorpio2 brought up some shorting rules of which I was not aware – that perhaps even in cash accounts your shares can be borrowed without your permission. If you have a negative cash balance, that is… which I always figured was, by definition, only allowed in margin accounts, not cash accounts.
But maybe I don’t know all the terminology. An interesting topic to sort out, regardless of whether FDR is being actively shorted at present.
Enjoy the long weekend everyone.