Largely in agreement tukebay. The chart has now made a higher...

Largely in agreement tukebay. The chart has now made a higher low on Thursday and the second 0.098 close made a higher intraday low than the first. It was also nice to see the higher low made on very light volume. It looks like we'll move away from support over the next week.

I was a little concerned with the action on Wednesday morning but the grey skies cleared with Martin McFarlane announced as a Director. He appears to have a very diverse skillset which should be of value in both the development of the HPA asset and the potential spinning-out of gold projects.

With a placement/raise imminent (probably within the next two weeks) it'll be interesting to see the outcome and timing. I note that the last placement (10/08 - 0.06) set a floor at that price. So it will be interesting to see at what price they place this time and whether the outcome is similar this time. Although I'm very bullish at the moment my primary concern is for the resistance at 0.15 to become support.

From the quarterly on Tuesday:

JORC Resource Estimate: Approximately 900 kaolinised samples from the air core drilling program have been dispatched to LabWest Mineral Analysis in Perth WA for optimal beneficiation sizing test work and head assay analysis for the maiden resource estimate. Bulk density drilling of the deposit is to be completed during November.

Metallurgical Testing: The tests have indicated that rapid leaching at moderate temperature and rapid precipitation of the intermediate aluminium chloride product is possible with exclusion of the minor contaminants. Final results of the initial tests to produce a HPA product are anticipated within the coming month.

Also importantly: Metallurgical testing of the due diligence bulk sample is ongoing and indicates excellent processing parameters for both the kaolin beneficiation and the HPA process. Reduced operating costs and size of the processing infrastructure are expected compared to similar projects.

This looks like the beginning of a very exciting month with everything set up nicely for further gains.