jump in spot price tipped, page-3

re: 1st ags jorc Trader, I suspect its either for one of two reasons being that a. no-one wants to see their investments decrease even on paper esp for those that bought at the $2+ mark or b. the generosity of those informed posters who like to share information with the less informed.

My gut feel is that these first 2 jorc'd areas will be sold (as in a supply agreement) before the end of '07. This will either be dictated by the timetable to mine, or indeed it may decide the timetable to mine depending on how the deal is structured. The rest of the 10-15 sqm will be drilled and jorc'd over the next 18 mths. The 3 mine policy overhaul this year further strengthens my opinion.

It will be more compelling for Heathgate to speed up their drilling once a supply deal is in place. PDN signed their first supply deal around 12-18 mths prior to commencing supply, hence my conclusion here.

18mths on, who knows how big this resource will be. All I can say it will be huge .... and very profitable.

Disclaimer: DYOR