the burundi deal, page-24

I don't think the revelation of the status of the mining convention should cause mass panic. This information has been detailed in the company's documentation since 2005, the market has been fully informed of this situation just that many here haven't read it.

The thing is, AGY have been trying to get an extension for 2 years but only now has there been any significant share price action. It is apparent from the trading activity both before and subsequent to the meeting, the issuing of 50c options to a whole bunch of people, including the directors, that a very high degree of confidence exits that a positive outcome will be achieved.

I've actually been impressed by the resilience that the share has held up to date. We can't be sure of what words have been spoken over in Burundi but there seems to be a degree of confidence reflected in the share price, 70c is proving to be a floor.

You can bet that if there is no clarity on this issue before the AGM (24th May?) the options will most certainly be voted down. Something I'm sure the directors will not be happy about.

In a risk/reward situation it's still probably worth a punt if you have the stomach for it, you can't lose more than you put in but the upside is multiples.

Good luck all.