Guys Guys Guys...Don't miss the point.I'm not comparing anything...

Guys Guys Guys...

Don't miss the point.

I'm not comparing anything between the 2 stocks "fundamentally" in my post.

I'm posting observations of similarities in price action and price cycles and in investor behaviour... nothing more.

Today's trading is concerning. It smacks of distribution.

While I now hate to admit it I made a gross error of judgement when I bought my first parcel at 27, I bought the rainbow.

Never thought about delays in drilling, never stopped to consider market reaction would be slow, never stopped to consider lots of things... Because I liked the story.

For the share price to be re-rated (upwards) as we holders all want and deserve (for taking the risk) what needs to happen now is "not" more drill results (unless Ok Tedi turn up something mindblowingly high grade and long)

What needs to happen is FNT needs to convince the market that they have found a deposit (somewhere / anywhere) that is economic to mine.

They need to prove up a Jorc resource. They need to conduct a Scoping Study. Then a PFS, then a BFS... Time to completion... 2014 at least IMO.

They will need port, power, accommodation, infrastructure everything built from scratch, I would think capex would be enormous to get Andewa up and running, if indeed it is the Lihir style deposit Peter says it is.

Maybe we can JV - Maybe we can sell it - Maybe if its proves to be what we would like to believe FNT may get taken over (that would be the cheap option)

But right now there is a lot of maybe's there and the market likes answers.

Share prices drop below support levels for reasons.

I've made my case now quite clear that I believe that the stock is in distribution and will probably remain so until one of the above maybe's happens to pass...

That is all.

Thank you for reading and hope everyone took something away from it worthwhile.

Long termers won't sweat, those looking for fireworks maybe disappointed.

Back to the XJO for me.