1. I am expecting announcement in the next 3 weeks - More...

1. I am expecting announcement in the next 3 weeks - More Gascoyne Result.
2. Before end of August (check previous QAR "Data compilation and validation completed at Hermes and Wilgeena
Gold Deposits" - Usually It will take 4-6 weeks for finalisation - There will be an announcement for Hermes JORC Upgrade (Hopefully). I am expecting around 159,000 oz (Based on Ann on 10/12/2009 and my conservative analysis). up to 231,000 oz - I have my own report - I am not guessing this figure.
3. Cash on hand $4.7 M this is sufficient for the next 2 quarter only (say 9 Months if Management can implement Tight Budget Control). - If there is no good news on AUG/ Sept, Capital raising might be required in the next quarter or next 6 months. Unless, Management can convert current project into cash (less likely).
4. No matter how high Gold price is. Investors need certainty to move the share price.
5. I agree that "whatever on the ground will be on the ground". It's just the matter of HOW and WHEN. Unless, there is catastrophic event.
6. If the share price declines below $0.18. It might fall to $0.16.



Please DYOR. Do not trade based on this analysis.

Luck is when Preparation and Opportunity Collide.