Pinned straw:
Cooper Metals down 50% after diamond drill results around the 71m hole disappoint with no sulphide present
Big lesson here, wait for additional drill results for confirmation and don't just jump on the first drill hit.
Plus the strike was another warning sign.
Only had a small bet but it looks like things aren't looking good and the geology not as straightforward.
Probably going to be the last time I invest in an explorer unless they find a genuine discovery.
No longer held
Some theories on the earlier 70m+ intersection
* Could have been a high grade sulphide vein or offshoot that was caught by sheer luck.
* Intersection could have been accidentally "smeared" from a high grade section as it came out but think this is unlikely.
Have to give the MD credit for being transparent and stating expectations now of low sulphides on the diamond cores rather than when they get assayed at the lab
Even if there was a possible leak up to the results (Friday share price was 5% down)
This is the IP anomaly from announcement 5th March 2024.
Like the copper story and enterprise value but personally not worth a punt here right until we see a lower share price. Better to look at the producers.
