Ann: Becoming a substantial holder, page-12

Where Tribeca goes, others follow.

And looking at the action today and yesterday, either Tribeca are taking an even larger stake, or one or two other funds are loading up, I tend to believe the latter, and we'll see more substantial holder notifications.

Tribeca are very successful, but more importantly, one of the most thorough researchers and supportive funds in the global mining space - this is huge news for HXG, and the management can be justifiably proud.

And I think Search111 is correct, these funds hunt in packs, and they are hungry for HXG at the moment, or so it seems.

Thanks also to Snouty for letting us know that Mike is in the USA and China this week - Tribeca also obviously knew this. These funds have representatives in the USA and China, they know what is going on.

This stock is very undervalued. Hit 22 cents today, nearly 3 times as many buyers as sellers, and probably heading up to 28 to 30 cents in the short term before a breather. And that breather might indeed be short if Mike's USA and China journey proves fruitful.

Let me give you the ultimate, almost unbelievable valuation example.

Morningstar's quantitative valuation uses an incredibly conservative methodology, especially for small cap mining stocks. Over 98% of these small cap mining stocks are now registering "Overvalued" by Morningstar.

You can guess which couple are listed as "Undervalued" - yes, it's HXG. This is massive, and an incredible statistic from Morningstar at the current moment in their fund valuation cycle.

Morningstar has almost all small cap mining stocks between 10% and 50% overvalued - but HXG is 20% undervalued, which means in real terms (when comparing to Morningstar's valuation standard deviations), that HXG is actually about 50% undervalued, so it's true value as of today is probably about 33 cents, but tomorrow that could sky rocket, and probably will. All very interesting.

There are some hungry funds out there at the moment, wanting HXG.

Let's see what happens when Mike presents those purity results to Chinese customers - it might be a case of strapping ourselves in.

Gw