I topped up this morning, grabbing a few at 21.5 before it went...

I topped up this morning, grabbing a few at 21.5 before it went up. It wasn't so much the drilling announcement, it was the announcement about the fieldwork results being released "shortly" which I don't think's been priced in because people don't know about it. But the Washington Resource prospectus and the two exploration reports were nagging me last night.

The geology in the north east of the tenement is prospective for nickel and gold, with exceptionally poor work by BHP in 1996 when the gold price averaged $400US, nickel price US$6,000/tonne so BHP were only looking for whales. BHP recorded old gold workings and maybe MAN will have some rock chips reporting gold - there's a gold occurence recorded 100m north of MAN's tenement boundary (Wongamine). On the north west of the tenement there's a couple of mafic/ultramafic intrusives (one 2.5km long, the other 2km long) the 1978 report sampled and mapped and found Ni + Cu anomalies, but didn't assay for PGEs. So there's potential for these to return Ni+Cu+PGE rock chip assays.

So when's "shortly" - hopefully not long enough for the S/P to drop below 20 cents.