Post by
schocor on Nov 28, 2024 11:43am
Hibernation Time - 1 More Season to make it work
This was a terrible drilling season. They had alot of rig problems that they have not yet fuly disclosed, and it points to the amature nature of AW1 as well as the tricky conditions in the arctic.
AW1 has the erquipment and cash for ONE MORE drill season at Storm. THey will need to find evidence - strong evidence - that they can find a material deposit at depth. Thus far, they have had two or three theories about that but no proof any of them are correct. Nobody cares about surface puddles: the push back you woudl need to mine these at surface with that sandy clay at sommerset give yuo everything yuo need to understand the issue (hard environment).
AW1 will not be able to raise any money without success at Storm next year; and if they have no money this project will be officially dead. AW1 ahs earned their 80%, so ASton woudl have 20% of a project that is not moving and they have no control over.
Should see a little somethign from Epworth, but nobody cares about pick samples.
This stock is going to hibernate until it wakes up again. Follwo the seasonal pattern here is my advice and get ready to bolt if we have another dril season like last one. This project looks like the dud we know it to be.