CXO Summary, page-22

Who knows (apart from CXO management)? I've said before that I don't expect the DFS this month. Historically management seem to work to a different calendar from the rest of us. What shows as June on theirs may be August on ours. As to whether it's better to get separate announcements or just one big one I don't know. Punters do have a tendency to buy on the rumour and sell on the fact so if an updated resource estimate announcement comes out first punters may tend to do their own sums re the DFS and then sell before it has a chance to drive the SP. On the other hand, one all-encompassing announcement may give a major re-rate in a short space of time - even if it does slip back a bit afterwards.

For now I like the steady grinding down of the sellers that's taking place. I think we'll hit 5c again next week.