over reaction to friday's report?

The fall away today seems to be an over rection. I have re-read the report...and some earlier press reports and things still appear very prospective to me. But I hold and may be" under the influence"


"At a 0.5 per cent Cu cut-off grade, the Inferred Mineral
Resource is 940,000 tonnes at 3.3% Cu, 0.18g/t Au and 15g/t Ag.

At a 1.0% Cu cut-off grade, the Inferred Mineral Resource is
840,000 tonnes at 3.6% Cu, 0.19g/t Au and 16g/t Ag.

The resource estimate, which includes the higher-grade east limb
- 520,000 tonnes at 4.4% Cu at a 1.0% Cu cut-off grade - has been
compiled in accordance with JORC guidelines and is a major first step in
implementing the company's strategic plan of discovering several
deposits in the Einasleigh area and assessing the area's potential to
become a profitable copper and gold producing province.

Not included in the Golder Associates resource estimate is a
further Inferred Resource of 260,660 tonnes at 2.13% Cu, located in and
around the old mine workings, as reported in Copper Strike's October
2004 prospectus.

Golder Associates is preparing a resource estimate for the
Kaiser Bill prospect, located 8 kilometres to the west.

This should be ready in two weeks, after which Copper Strike's
mining consultants will evaluate the Einasleigh Copper Mine prospect
results in a scoping study to assess its potential as a high-grade
underground operation and Kaiser Bill for its potential as a larger,
lower-grade open-pit operation."