1 day, page-4

My theory is there was a broker accumulating for a potential substantial shareholder who wants to get set up to 12c and they have now gone cold to see if the sp slips back....I believe they will be back and as the word spreads that the resource firming up is on track more big boys, especially Fortescue (who one would have to theorise are already in the top 2 via nominee companies and hosue broker Citi.

The other interesting observation is the churning and capping which indicated someone doent want it to break out just yet....looks like a classic man ipulation at times...2 or 3 traders colluding to push it around a 2 c range which is great for picking up 3-5% bid/offer spreads.

Ask yourself who would want to keep it capped pre JORC and assays and accumulate...I have my theories...one being that Kev will cut a deal with a Rio or likely FMG...or BHP.

All will be revealed in time....next key ann is the assay results of the Richard Russell rock samples.

The lid wont be kept on this for too much longer IMO...the probablility of the resource being tehre is approaching 100%...have to be 90% at the moment with the nearology and initial geology.

FDL is massively undervalued on the inferred resource basis NPV x probability..should be at 20c now IMO....and 50 when JORC'ed in Nov'ish.

Im accumulating under 10.5.....and getting ready to book the Melbourne Cup tent for the faithful...