Ann: Outstanding Initial AU result at new Ridge deposit Sandstone, page-32

I bought in today at 2.1c and more than content to hold for a short term investment. There was a couple of super sized dumps about 10.30am that effectively capped any significant rise; there are a lot of shares on issue (like 1.6B from memory); the MC is mid range; but for me there is little downside risk at this point being up only 11% and evidenced by the 2c level holding all day. It might be some game to accumulate more or someone focused on a short term gain.

Its a compelling story - the very high grades in the one hole at the north of the tenement and with more drilling to come. It presents a lot of upside and and once the games are over, I can see this breaking above 3-4c before the next drill results. You can compare it to the trading around the MGV result with a selloff on day 1 of ann and closing around 30c, only to be pushing 53c two weeks later when more results are due.

I do get the bit that with 1.6B shares on issue there is a lot of history and patience expended.