Good ANN, Cherry picked the initial program for highest grades...

Good ANN, Cherry picked the initial program for highest grades to suit the conference tomorrow.. Just like they setup the ANN for the AGM and CTMOA expiry. Maximum impact.

They are getting very predictable - to the point I wouldn't be at all suprised (and I expect) to see the best drilling results, combined with Salobo license resolution and extension to strike LxW - IN early JUNE, after the May/June markets selloff and just before Pebas kicks off..........

I feel better depth to come based on auger results with Southern target to be even better still, based on the Jacare model/section..

BUT

Mgmt are being punished for yesterdays Ann re; delay to Salobo drilling license. They have been holding that info for a while IMO ( read the last ANN on the delay to license application). From what I understand, clarifications/ follow ups are normal from a license application, so not worried.. But the reality is half the market sold yesterday in a knee jerk, the rest (smarter half) waited to sell into the news today.

Overall dissapointed like everyone else we aren't seeing the realisation in SP from what are exceptional grades, over a consistent section - but in no way surprised by today.

They're pumping the RC hard, looks like 2-8 weeks of solid news results to come, then Pebas.