battered to 80cents a zinc pound value, page-22

What I have also noticed is the gap between buys and sells in the options atm Wilf.

I think we are looking at a market in which the buyers are a little reluctant atm with base metals trading a bit shaky with all the threats of further monetary tightening worldwide.

However the Far East Capital buyers still seem to be prepared to support at 12/13c with the ords which will make option sellers reluctant to drop any on the basis that this ords support still bodes well for future developments.

I would also say that option buyers have probably pulled back a little on the expectation of tax loss sellers dropping some cheap towards the end of the financial year.Imo if they hold mid 8s they will have done well through the next week or so prior to 30 June.If you can get them to drop them,as these oppies buyers are hoping,then its cheap buying.Interesting thing is that the last few trades in the options,although not being huge volume,the buyers have jumped up to the sellers.The next week or so could be a little different though with the tax loss selling motivator looming large.

There are two parcels of unlisted options due to expire June 30.

6 million at 6c

18 million at 10c

Looks like the 6 million at 6c wont be any problem but just how many of the 18 million are exercised will be very interesting.

Depends whos holding I suppose.Some option holders have been exercising over the last few months on expectation of further Perkoa developments one would think.I cant see why it should be any different for these option holders but then some may not see further potential.You'd have to have your blinkers on,or be a Flory contrarian,not such a remote possibility some would say.

Could be a good time for some kind of positive annmnt!

Must be starting on Mumbwa soon surely.

Got to be careful with Mumbwa though.Its a better bet than most imo seeing they seem to have isolated the strongest targets after previous drilling campaigns but I'm a little wary of airbourne surveys as they are really only testing magnetic/gravity anamolies which could quite honestly be due to multiple other causes.But that long low grade interesection that Viv mentioned takes a little of this doubt away.Not much,just a little.

Roll on some news on Perkoa/Mumbwa.

d.