ann: response to asx aware letter, page-84

This new investor believes the story to tune of $3.5m, so it will be interesting to see the investor's identity. Having read through the whole story, I am starting to feel cautiously optimistic about this. The hole is surrounded by 5 others, so if the story is true, some of those holes must have good results coming (BTW, can anyone find those hole numbers?). In the short-term, this hit plus the blanket of silver story is worth a market cap of $40m, at least, based on other spec stories leading up to results. If the next holes are good, then it will rocket, and the new investor will have gotten a bargain at 25c. If the next holes are bad, they'll lose in the short-term, but they are presumably in for the long-term.

Two concerns:

1. Rereading the original announcement, they seem to be very confident, so why raise at 25c? Business incompetence? Financial insecurity? It can’t be corruption because the investor could have entered more cheaply before the announcement.

2. The numbering for the holes - why did they start with number CDP-021? In the first round of results they started with CDP-001 to CDP-009.