Ann: Maiden JORC Compliant Resource Estimate in e, page-32

re: Ann: Maiden JORC Compliant Resource Estim... Patience! Lets not forget that from early last year, the coy was promising a maiden JORC target of approximately 8m lbs. The coy has delivered on its promise and has met and exceeded its time frames. For those willing to wait until 2012, the current action is largely irrelevant. As the JORC figure expands and once it goes into production, the most significant re-ratings will occur. I myself am holding a smallish trading parcel and a largish parcel which I intend to hold until production.

One of the most important trading lessons that I learnt was always remembering why you got into the trade in the first place (particularly for long-termers) and maintaining that discipline regardless of the action. I myself have been guilty of failing to let profits run (VBA @ 29, NAV @ 11.5 among many others).

Currently, as mentioned by Didier, the JORC figure justifies the market cap and takes the coy from being purely speculative to having a solid resource base. For me, this is a positive step and I believe that management have begun to develop a reputation with investors for being open and reliable (a big tick if you have ever been involved with unresponsive and incompetent management).

Having said that, I am surprised by the low-ish volumes. As a darling of traders, one would expect the volumes to be far higher than it is.