Ann: Significant Increase to Finniss Resources and Reserves, page-129

No you aren’t missing anything. It was a disappointing announcement. I got back in for this announcement and re-rating but exited at open. I will be looking at entering again on commissioning or on a 3-4 month consolidation period back wherever that level is, but I think it could be in the 60-70 cent zone. I have been in CXO before for the ride from 60 to ATH and then exited before the asx 200 index inclusion because of the macro environment which deteriorated and I wanted to be only in LI stock that we’re producing and exit those they were not. CXO and LKE were only held up longer than other Li stock due to the ASX200 inclusion.On hindsight I got back in too early on the hope of a re-rating and figured the shorters would push this down with this less than expected annoucement. I was please to get out at 95c which surprised me. I like CXO but you can’t go against the market and in a bear market it is all about capital preservation. All material stocks (cyclical) are getting smashed and will continue for the next 3 months plus. A big buying opportunity will come in materials across the board be just not yet.