That's one way of looking at it Awoonga. I'd like to suggest...

That's one way of looking at it Awoonga. I'd like to suggest another.

There is no volume because the stock IS tightly held and there are few sellers. A certain posters dump last week would have scared a few and combined the volume we have seen is probably all the volume there is at those lower prices. The only thing that will send us up is more appetite from buyers but there is no real reason it will go back down again. Mind you, I have orders in the queue just in case

Now should the JORC reveal a healthy uplift in resource size and grade that could change things. So could any news on discoveries. $2 million to spend on the drill in the next 6 months, give or take, that would equal approximately 10,000 metres of drilling at Carajas rates. 20 x 200 metres deep? 10 x 400 metres deep. Given SM's hit rate I'm feeling pretty comfortable we'll find at least a sniff of it in the next 6 months. If not, next years budget is $5 million for approximately 25,000 metres.