Ann: Lake Surprise Delivers Encouraging Gamma Readings, page-35

I feel this announcement is nothing more than fluff. Take for example the quotation which was meant to make us feel warm and fuzzy:

"During my career to date, I have rarely seen readings such as these taken at Adavale’s Lake Surprise Project recently."

--- This statement is made in the first person from Geoligist Pat Harvey. Importantly it is not a representation made by the Company. Therefore, we can't rule out that these readings are any better (or worse) than those seen before.

-- "I have rarely...recently" - so Pat Harvey has seen readings such as these previously. We can infer from this statement that the readings are no different (read: better) than what has been released previously. The addition of the word "recently" at the end of the sentence just waters down what was already a very vague statement.


"Initial radiometric readings to date are extremely encouraging, however the data still needs further analysis and full results will be published in the coming weeks."

-- Nothing new here

Don't take me for downramping, in fact I own a large parcel and am deep in the red. I guess an announcement like this is really only an attempt to stem the large sell off which we've witnessed of late.

If the board and senior management are serious about this company, I think they need to work a little harder or a little smarter. At the very least, they need to reflect on the last few months, possibly there is a skills gap present and recruitment of someone who can deliver value to shareholders is needed.