The current boss of Greatland Gold has slammed the markets for a ‘ridiculous overreaction’ to today’s initial Scallywag results.
Following drill results that shown peak gold intersected was 1m @ 0.25g/t from 398m (LOD001) and peak copper intersected was 1m @ 1,105ppm from 461m (BLD001) among the test drilling holes, the share price of GGP was on the verge of a 40 percent drop.
However, it has since bounced back to around 29p in a matter of hours following a fall to 24p earlier in the morning.
Taking to Twitter to express his disappointment to the sell-off by investors was current CEO Gervaise Heddle who noted the business is in a very strong position for the year, with the initial results providing valuable insight as well as new targets being identified:
Greatland in a very strong position entering 2021 – early works and growth drilling programme at Havieron – strong JV partner in Newcrest for Havieron and Juri – will continue with multiple exploration programmes this year – ridiculous market overreaction today in my view— Gervaise Heddle (@gervaiseheddle) January 20, 2021
Multiple new targets identified – just scratching the surface at Scallywag and these results provide us with valuable insights into exploration model for the region – moving forward with three exploration programmes in the Paterson this year – Havieron, Juri and Scallywag/Rudall https://t.co/KhytoC5Crb— Gervaise Heddle (@gervaiseheddle) January 20, 2021