As for the 10-20c - I was refering to where the market had...

As for the 10-20c - I was refering to where the market had valued it previously and wether or not it could get there again. Given the extras shares on issue since then the discovery would have to be bigger than before to reach the same valuation IMO.

I realise the India thing has been going for for a while - a long while and I wanted some feedback from the long termers about the rhetoric used by management. If the court case was due in Oct the Dec would be about right for the Indian system!

Some of the quotes that got my attention from the recent address -

"Before handing the floor over to Jim, I would like to bring you up to date on India. After a lengthy period of relative inactivity, we have resurrected our links with our Indian joint venture partners, who have made noticeable progress with resolving the Block D-7 issue with the new state government of Chhattisgarh."

This one is the KEY IMHO - note the bit that says "we are only waiting . . . . "

"This solicitor, who is based in Mumbai and who heads up the legal team representing us in the Chhattisgarh high court is very confident that the matter will shortly be resolved. Even the judge wants to clear it off his cause list and we are only awaiting the state Government’s written assurance that they will reissue the P/L and the related documentation to BVCE."

and here - "are about to or HAVE reached" (my capitals)

"Arising from a number of recent meetings between Bharat Shah and high ranking state government officials we understand that the two parties are about to or have reached agreement on this outstanding matter, which upon agreement will clear the way for the Block D-7 P/L to be reinstated."

this is the bit that tells me they will come away with more han they had originally -

"As mentioned in our Annual Report, there are a number of other quality diamond project applications pending government approval, which are all dependent on the outcome of Block D-7. A successful conclusion to the Block D-7 matter will likely precipitate the granting of all of these other applications which would present Oropa with an interest in an enviable portfolio of high-quality diamond prospects in India."

and the champagne corks comment here tells me they have been told they have D7 but have been burned in the past so they want to say it carefully -

"Block D-7 remains very important to Oropa, even after nearly 4 years of ongoing frustration to the Company’s directors and shareholders. Technically, it is an outstanding exploration project, which has received a high degree of publicity and has been much sought after by three of the world’s largest mining companies. Obviously they consider that there is huge upside potential to develop a mine in Block D-7 and our previous fieldwork strongly supports their opinions. However, we have experienced much disappointment on a number of occasions with getting the project back over the past few years and we are not popping the champagne corks yet."

This is all my interpretation and I don't have 4 yrs of pain behind me so it could all just be misconstrued optimism but hey! it must be refreshing to know there are new entrants to the stock . . . . the TA has a great early signal and an announcement is they kind of thing that could put it between 10-20c overnight.