The news today at first glance looked similar to that of other recent announcements, however a few indicators are sarting to line up which makes things a little more interesting....
1. the recent increase in large buy orders and
2.the increase in buy dominance over sellers (51 mil/13 mill) and
3.the prescence of macro diamonds in today's anouncement and
4.today's announcement statement that ...."While the Company considers that the results obtained thus far are encouraging they do advise that the results are inconsistent and only indicate the potential commerciality of the kimberlite." (end quote)...
5. and the increase in volume ( 29 mill in two days).
6.today's buying and selling of 4 million shares @ .018.
The news today won't get a headline in the AFR but with the indicators lining up and the overdue Eromanga Uranium (ERO) news, it is creating some anticipation of some worth.
Like a lot of explorers the word " encouraging " is over used but today was the first comments about results being of "potential comerciality".
The difference between "encouraging" and a "commercial" discovery is like chalk and cheese and probably equates to a sp of current under 2 cents and 60 to 70 cents.
One hopes the potential commerciality is further clarified in forth coming anouncements.
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