Ann: Full Year Statutory Accounts-ORE.AX, page-101

Very true nrcmedia. The oil companies may be playing hardball but this is a battle they will ultimately lose. We have a global carbon budget and as we approach the cap there will be ever increasing pressure to reduce oil, coal (and ultimately gas) exploration and convert to renewable technologies. We're on a winner here.

I'm not sure what the long term business model for these oil companies is going forward. As well as exploration, they also carry out refining and distribution. With lithium the analogues would be purification, battery manufacture and electricity distribution. Not to mention renewable energy generation. Are they entering these markets?

Regarding OPEC... Have you heard this analogy? Imagine you're selling ice cream in an ice cream van and suddenly the power goes out. You need to sell all your ice cream before it starts to melt. You're not going to ramp up prices are you? You're going to have a sale on ice cream!

It looks like a bounce may be on it's way. I tried to buy some more at 3.68 then 3.70 this morning but seem to have missed out. Anyway, will sit and wait a little longer because the SP is volatile enough to drop a few pips again today, you never can tell who has to sell. I still think we'll be hovering around these levels until the results of the expansion scoping study are announced, but I do think it has bottomed out for the time being.