rowitt: They were just some questions - each stock has to be taken on an individual basis. I invest like you in pretty unfashionable stocks sometimes and it takes patience for them to come right and when they do its always hard knowing just when to sell.
However, as a general rule, I think that many investors stay clear of stocks that release news on single drill holes, especially Canadian stocks where there are many not-to-be-trusted plays. I am sure that there are exceptions but a single drill hole doesn't make a mine, especially the first one. That strikes me as very suspicious (if they had reported say 20 holes and hit a high grade one then that might be a bit different).
Likewise $30 moly - I am sure no bank would take a miner seriously who tried to get financing or did a BFS based on this.
Likewise comparative valuations - though at this stage of the game its sometimes more of a momentum play than genuine long term valuation. MTL seems to have a strong backing whilst on paper there is no doubt that its story is no stronger than many explorers out there - by that's my opinion of course.
However, the most money IS, I believe, to be made of extrapolating and before JORC/NI resources, but the potential upside should be correspondingly large to compensate for the risk. Once resources and BFS are in its a long dull slog to building a mine so unless a stock is serisouly undervalued for a lot on investors that is the time to be out.
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