great collapse will reverse soon
This over-reaction or panic that we are seeing is really troubling to see, but won't last forever.
The share price has gone down a good 30% and this after posting drill results that were nothing short of spectacular. The last two drill hole results were some of the best in the last 100 years.
Before the drill results of hole 58 came out, John Embry stated that as much as 7.5 million ounces could be estimated. So, with hole 58 showing 255 metres @ 12.55 g/t, this should easily add another millon or two. So let's say the most optimistic estimate of the amount of gold at FDN is now 9 million ounces and counting. This after only a few measley holes! The blue-sky potential is incredibly bullish for this deposit. We have dozens of holes to go.
So, before you know it, we may be at 12 or 15 million ounces and counting. Even the most conservative analyst (including our good friend Mr. grandich) will have to acknowledge that Aru has something tangible and worth a heck of a lot of dough.
At least now, with the share price dropping, the risk/reward ratio is beginning to favor the reward side and this is starting to bring in a fresh new crowd of eager investors.
Anyway, as always, the drill will tell the tale. And if the drill results continue to stay the course, nothing can stop the share-price from exploding upwards again. Is a 20 or 30 million ounce deposit gonna be valued at 10.00/share??
This could easily turn out to be another Hemlo (22 million ounces average grade 7.7 g/t gold).
JMHO