Ann: High Grade Copper intersected at Horse Well Prospect, page-407

hi, yes i have been bemused by the conspiracy theories as well! Most have followed the daily movements quite closely, but after this weeks drop there have been a few jump on and start generalizing and saying inaccurate things. The share price slowly crept up during the drilling program from under 1c up to around 2c. Then they did a cap raise to existing holders only (no instos) at 1.7c, then the director started buying on market. As soon as this happened the price quickly moved up to the 4s and 5s. This was the period when speculation was rife about mother lode etc.

The results generally match the early expectation when price was around 1.5-2c and that is where we are now. The management have been very supportive of holders (extending dead options, raising with holders only etc) and explained as best they could about delays. Everyone was hoping for more mineralisation between the two heavily mineralised zones in hwdd04 (at around 950 and 1350) but it didn't happen. i feel the management were in the same boat, expecting better results particularly in that section.

Its a promising start. i think they will probably do 5 follow up holes in horse well next then onto Pernatty C after that. I doubt they have the funds to run more than one rig,