Ann: King of the Hills Drilling Update, page-8

Well, it looks like one of the main determinants for gold miners, the POG, remains relatively positive. So far the pullback has been technically reassuring, with the retracement oscillating around the 23.6% .... a breech of the 50% retracement level (US$2200) would be a different matter.
Note: the A$POG has retraced more, because of the relative strengthening of the A$ vs US$.
The "drill results" should not be surprising - this mega ore body is expected to reveal many more .... hence the confidence in a very long LOM.
The loose talk about renegotiation of the merger by both RED & SLR fanboys in favour of better more "equitable deal" is fatuous - both BOD's have agreed after many months of negotiations to the deal, and although theoretically SLR SH's can abort, RED can't unless a better offer magically appears.
This seems highly unlikely at this point as not one credible whisper about GMD has surfaced - GMD is the only alternate deal that makes sense.
The UBS switch to SLR from RED ensures that the YES vote will succeed, and UBS will become a new RED SH's after merger complete.
So, settle back and hope the market remains intact, along with the POG, so Big RED can emerge in calm seas, as .... REDLake ? REDGiant ? REDhead?