Ann: Strong EM Conductors Confirm New Geological Interpretation, page-107

It has been an up and down day, until the last 45min everything looked good to me.

Here's how I sum up the announcement, please add or correct me if you can.

1. MLS have found that the current resource is potentially going to yield a greater tonnage than first anticipated.
2. MLS have realized that they have been testing ZINC in secondary zones, that they thought were primary zones. So, further drilling is necessary in an different area. This could either prove that there is something more that is significant or their isn't.. But right now they think that it's a possibility, and the somewhat mediocre test results have pointed them in the right directions
3. MLS have found that ZINC mineralised zones are existent both in shallow and deep samples, but more drilling is necessary to definitively conclude what's in the area
4. Exploration drilling found nothing, but one of the holes may be bordering on a source of nickel and copper, but that hasn't been confirmed
5. Cobalt was found, this is significant as the value of Cobalt is high. What MLS don't know is whether they have just found fragments of anomalies or if they have something significant. So they will need to formulate a targeted program to test for Cobalt. If this proves to be true, fantastic! But will they need a CR to get this done? Not sure.

Overall the announcement seems to have let the Market down, I think most were hoping for a lottery win.. I'm still bullish about this, but I can see why some of the big players are getting out. As I said previously, charts still look good to me, potential is still there, I hope this doesn't get sold down any further and is allowed to grow some legs before the next drilling campaign.