Hi,also - the difference between the UMC JORC and the BRM one is...

Hi,

also - the difference between the UMC JORC and the BRM one is that I expect UMC's won't be composed of 45% iron ore, an untested beneficiation process, and will fully disclose the impurity levels.

20,000m is a significant amount of drilling to be done - I'm not expecting a JORC til July.

Institution buying has been indicated by a clear increase in volume starting on 19th March. I was personally very surprised that lack of liquidity on the market depth buy side didn't see this share drop back and retest $1.20.

I too have bought more. I never average down (that would mean increasing risk when things have gone wrong). Averaging up means taking on more risk when things have gone in my favour (i.e. i am taking on extra risk using the market's money).

I am hoping for a JORC in July, and an AGM in November outlining possible steps to production next year.

Directors are exercising options, solidifying their position and not selling shares. Top 20 holders are increasing their holdings. Instos are getting in. If you're selling - quite frankly you need your head read.


Joel