The next 7 days!, page-7

What happens to the SP must surely depend on what's in the update.

This is the relevant part of the letter to asx:

"The update will address our interpretation of the significance of massive sulphides intersected in a new hole situated in close proximity to the massive chalcopyrite announced on 14 July 2014".

Now most are assuming that because of the flash run yesterday afternoon accompanied by the TH that the interpretation is going to be very positive. That may be the interpretation, and I hope for every holders' sake that it is.

However, the TH may have been forced on management by asx so as stop rampant trading. Assume that the Sec would have received a phone call from asx yesterday afternoon and was asked if the company knew of any reason for the high turnover and SP increase. The Sec may have replied (1) "yes, but it's only new and it's about drilling visuals so we need a TH immediately" OR (2) "not really, but we are drilling as you know and there are some massive sulphide visuals that are of interest but we want to assay first as that's our plan". The 1st response would be wonderful if true, but the 2nd not so wonderful perhaps.

Obviously the new hole has shown something of interest ie massive sulphides (again, as in other hole), but how significant is it? What's the INTERPRETATION? That's the big question! If the company had intended not to report on the drilling until assays had been received ("First assay results are anticipated towards the end of August" the 4/8 ann said) but scenario one applies then that should see a quick upward SP movement, at least initially anyway. But if scenario 2 applies then ????. In either case, it will just be an interpretation.

This time A Jorc Table must accompany the update.