Ann: Strong Results from Channel Samples include 15m at 4% Copper, page-5

That depends if this section included these grades in the previous MRE. That are fantastic grades so if this section was modelled as lower grade then yes this will have a positive impact on the MRE. Is it enough to halt the selling, I doubt it.

On that note, I spoke with an associate last night that believes Ausbil is still in the process of liquidating their position in EM2. They dipped below 5% a few months ago which leaves them with ~15M as of July. There’s been a bit of volume through since then so I guess they’re still selling. In a way, it’s reassuring that it’s just one major holder looking to exit for reasons unknown. Perhaps that’s why Tim hasn’t dipped his hand not his pocket yet.