high grade haematite found, page-34

Think of the haematitie announcement as the company hiring a fluffer before the main movie starts filming. Gets ya all warmed up before the big show. To me the announcement meant nothing but did grab the interest of traders and some of them got burnt on the spike. Agree with Bungy that the traders are all over it and will be leadig up to the JORC and then they will disappear as quickly as a hookers love after she's been paid.

Most would now be set, particularly those that intend to hold over the JORC and into the next round of drilling where IMO the real value will start to emerge. 500mt+ will be great and should see a permanent re-rating of the stock but as the numbers start to climb on the massive deposits this company are targeting there will be plenty jumping on this train and quite a few will be left standing at the station like a deer in headlights.

Still to come:

1) BRR - Gary has to say something soon - he has a lot to talk about.
2) Cap Raising - Cornerstone Investor. Lets hope it's just enough to get the Yilgarn IP paid for and the drill rig/s onsite and drilling (they can raise further funds after the stock is re-rated and don't forget the oppies)
3) 2011 Drilling program - simultaneous drilling at both Mt Padbury and Telecom Hill IMO
4) Maiden JORC - above market expectations IMO

At present the gap between the SP's in PDY/AGU has widened significantly in the past week. Both stocks are undervalued IMO so which one is lagging - seems obvious to me and under that pretense best value today is PDYOB because if PDY plays catch-up to AGU the oppies offer the best in terms of leverage. DISCLAIMER - I hold PDYOB ;)

It's Friday so not expecting any big run or announcement but you never know....

Have a great weekend all and bring on Monday..