Sure Cajgan . What they're drilling at Paupong is a big system, something not easily understood in the market in this country , it's my guess that the company wants to have access to all relevant information before their geos assess and inform of the outcome and the way forward . My guess is that they're also around halfway through the drilling program there presently.
I think the company is also moving forward on two other projects and as far as I can tell have no requirement for any further funding in the foreseeable future due to tax credits and Government funding ,they run this company as tight as a strap and they have massive skin in the game.
This isn't a stock for most punters but I'm very happily invested at the current puny MC because sooner or later we'll get a result and there'll be no sellers.
One of my favorite Buffett quotes is that the market is a mechanism for transferring money from the impatient to the patient . It's not a stock for HC punters but it's one that I believe I'll make a motza out of in time.
In the meantime I can understand anyone who's getting really impatient , having been in this situation many times before it doesn't worry me . But frustrating , of course
ARS Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held