RE: RE: 2 holes..Got filled today immediately after open @.37 on a stink bid (or so I thot) I had in @ $.50, and then picked up some more at $.38 near the end of day when it appeared we'd bottomed. But re-evaluating the day's trading, how very strange that with > 7M shares traded we stayed inside an extremely tight trading range...basically .37-.40 ...all day. That's some price mgmt by someone. And as has been said, for every seller there was a buyer...someone accumulated a boatload (anyone have the stats for the day to find out who that was?).
After the initial shock of reading absolutely NO significant gold in the first two holes (I wonder if we should have figured that based on the fact that they changed the direction of the third hole?), I'm content to continue to pick up more as long as it stays down here.
But I have to admit, it makes no sense to me to not "go for the gold" on first holes, if that indeed was what they did and expected. There' s no rationale in saying that if one goes for the glory on the first hole that one wouldn't at the same time learn something about the rock...there'd be much to learn from ANY hole...whether it hit gold or not. So I find that a strange rationalization. Like breaking into a bank during the day with guns drawn just to find out where the safe is...sheesh...other ways to find that out without the risk of being arrested or killed. Drilling is expensive...why waste a hole drilling where one would NOT expect to find gold?
Anyway...I'm long...and this too shall pass. But sure do hope that our drilling program does NOT look like Aurelian's. We have MUCH more info than they did when they started...and it would just seem it shouldn't take us as many holes to find the gold assuming it's there...jt