RE:RE:Fifth Rigtornadoman39 wrote: Two possibilities: They haven't found anything; or Rev wants to hoard the good news for some reason. My question is: Can they hold the news back?
No - they can't hold the news back if it constitutes "material information".
"Material information" refers to any infomration relating to the business and affairs of a company that results in or would reasonably be expected to result in a significant change in the market price or value of the company. A company's timely disclosure obligations require it to issue and file a press release "forthwith" when a material change in its affairs occurs, or when material information relating to its affairs become known to management.
Whether or not something is material depends on a lot of factors, but ultimately it comes down to the company's discretion. If the 5th rig hit any substantial amount of mineralization, I would certainly expect this to be considered material information and would therefore be announced quite quickly.
Non-material information does not fall under the same rigorous ongoing disclosure requirements. So if the 5th rig has missed, this would not need to be reported immediately.
So in my view it is safe to conclude that the 5th rig has not yet hit any substantial amount of mineralization. If and when it does hit, I would expect there to be an almost immediate news release.