Hi AdrianI must say first of all that I've calmed down quite a...

Hi Adrian

I must say first of all that I've calmed down quite a bit, particularly helped by a sleep, the trading activity today, Rowscoe's good post (read it again and more persuasive today than yesterday) and recalling my initial positive response to the announcement of this acquisition.

I now await the meeting notice and which hopefully will have an informative explanation.

I suppose we can read this acq in one of 2 ways:

1. Doolgunna Field (DF) is a dud and we need a gold mine to survive, or

2. DF is yet to reveal its secrets, but management is very positive about its prospects (there is still much drilling and assessment to be done of course) and wants more Narracoota Volcanics to investigate once it shows that DF is a goer. The money from the gold, the CR and the loan will fund that exploration.

I'm now inclined to favour the 2nd prognostication. I've reinstated my LT buy sentiment - up from hold and which I had just changed to.

I now await the futher drilling results on Dgc 1 and 2, and assays elsewhere.