Hi All.Taken in isolation, I think this is a great announcement....

Hi All.

Taken in isolation, I think this is a great announcement. It implies considerably extended high grade ore being added into our 'feed the mill' strategy and therefore adds impetus to our restart and re-rate of s.p. - well beyond short term price movements surrounding this particular announcement.

Am I bothered about the timing of the announcement and the trading halt? It would take a much braver person than I to disagree with what Zebster has so clearly written. I do not doubt the accuracy of his statements on this matter but I also take into consideration the mix of statements and speculations articulated by T.B. Was a trading halt warranted and/or, to be blunt, was it a slightly cynical exercise by management?

On the exclusive basis of what was presented by the announcement, I would say that a t.d was not justified. However, I want to give some credit to our generally conservative management team. I think they are in a tricky position; they have uncovered an 'exceptional intersection' and are probably confident it will return a very high grade - but do not have the assay results yet. When this situation occurs there is often a 'lot of chatter' amongst the site workers, tech staff and management and this brings risk into the domain of other players and asic of course.

Cutting a short story long, whilst the announcement may not have adequately articulated the difficult, nuanced, full narrative justifying a trading halt, I suspect management has ultimately taken a prudent action by calling a trading halt. The timing was not a coincidence, I think management also, naturally, wanted to court favour ahead of the AGM. I am willing to forgive them for this relatively minor indiscretion - just once mind you!

In the longer term, I have no problem with this because I firmly believe this announcement is very exciting and fits in brilliantly with what all long term holders want - a really large increase in the value of the company.
Cheers
U