Ann: WA Government Co-Funding Diamond Drilling,AUZ-RIE.AX, page-11

I should probably explain a bit more. (maybe to save face for what could look like a silly mistake )

Australia lumps all mining activity into one category and index. 7 days ago this article came out:

http://www.abc.net.au/news/2016-06-10/mining-boom-halfway-down-the-mining-cliff/7500700

The article is mostly a garbage downramp on NABs behalf to preempt the falling prices that were easy to predict and it does not target specific markets or sections of the mining industry, which is a very broad industry. However the chart is very interesting and the article is a good summary on how the mining market generally moves on a psychological level. People see "Mining bad" They think" All mining bad". The same is for when it is good.

As such, when one sector starts to fall, the market lags as the indices are tracked on a broad level. Only those tracking individual markets do not react to this. You can see this as at the start of the week the priced dropped slightly, but it always does this as it is the lack of profit from investment / news cycle driving it down. In the last couple of days the price dropped hard as the gold price also fell. However, the rest of the markets came down with it as well. Including all hard metals, which are completely irrelevant to AUZ.

The gold price has increased the difference 2 fold since the price went down, but the Australian mining industry has not adjusted. It was riding on a average of all sectors where the greatest growth was in lithium.  The price of gold is higher than it was a month ago, yet the only other spec stocks that seem to be gaining traction are ones that have most holdings overseas. Like MOD.

It's all market noise. Who really believes that gold will go down if the Europe dissolves in any way? Look at the front market noise on this site. "METALS-Copper slides alongside equities on Brexit uncertainty" The article goes on to state that ALL light metals have dropped in price due to X reasons. So how is the assumption made that Copper is sliding if all metals are sliding?

Lithium will still drive the mining industry in Australia and drag up the other minerals with it.