Ann: YARINDURY DRILLING UPDATE, page-61

Seeing some harsh lows today.

Are the fundamentals (story) aligning with the chart? Again, I would see if the thesis holds up. Just confirms my assertions that management really missed a beat with giving the market what they wanted at that point in time. Low volume price depreciation just indicates to me that demand isn't really kicking in to keep the share price buoyant. Market has lost interest for now.

Look at the other ALK nearology play in contrast, the MAG chart reflects some pretty decisive moves by the coy, formation of impressive management personnel (with a lot of skin in the game) and some historically prospective land. They even poached the SKY MD, where SKY was actually looking to kick off their own Lachlan Belt program.

I would be disappointed if I was Datt, that $1.5mil buy-in looks to be a wasted opportunity to me. He even paid a future-price premium which failed to maintain its gains. A clear confirmation that management didn't capitalise on the moneyflow to keep the market captivated with the potential IMO.

I will reiterate, without a fundamental change in the project, Horn Island isn't going to do what Boda East was going to do to the share price.