Ann: Major Drill Program for IOCG/SEDEX targets at Frewena, page-23

My hunch about current price action across the small cap specie board is that today might be the Black Monday which will herald a turnaround.

No one can know for sure and for the long term holders (across their whole portfolio) it really does not matter much (hopefully no one is in this market on unsupportable debt !) Black Mondays come, sometimes they even come on Friday, and they go.

For some very canny players they may even present a time to top up your winners - - if so, you won't buy the ones which have fallen most - they are most likely your losers - but the ones which have held steady. And at this time i.e. the 'May-June Selloff', FA usually does not work, and TA is only good for the contrarian. What is important is the other driver of the market Sentiment.

The recent Inca anns have a definite effect on sentiment, even if they are not the 'Glory Hole' type we hope to get someday soon.

Once again, this is just my hunch, but please don't say the anns were miss timed - maintaining sentiment (called moral in the AA) is essential for the re rate which IMO will come at least by end July.

All IMO of course, cheer me or boo me as you usually do, but don't take my word for it.