a big day for mol investors tomorrow

Chart:

http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=AU%3AMOL&time=&freq=

STO=87.

Although the spike was a bit steep, the correction was only minor and buyers quickly took over: $1.79

The Perth AGM will be at 11 am tomorrow. The preliminary Bankable Feasibility Study (BFS) will be in Dec but we may get another Announcement tomorrow on the latest Jorc update.

Spinifex Moly: On 29 Sept, I made a rough InSitu estimate of about $A20.49 bill dollars based on $A=77 US cents and Moly=$US34/lb.

At the moment, $A=73.72 cents but Molyoxide is $US30.50. So, the deposit is about 6% less worth.

However, more drilling has been done since and we may get an updated Jorc estimate tomorrow.

When the BFS occurs, they could pick the 152 mill tonnes of ore (perhaps amended tomorrow) with Moly grade 0.09% first rather than the whole 281 mill tonnes with Moly grade 0.07%.

See what happens tomorrow.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.