todays trading

IMHO, this spelt in very basic terms a hint at what is transpiring. It is my belief, as with previous RAU placements, the 5 day average is played with to alter the VWAPs to "negotiate" a fair price. Added to this is the possible dilution through the initial issuing of shares to Nicholson and the possibility of future placements in shares, unlisted options, escrowed periods being staggered assuming JORC targets etc are met, hence the need of a "staged" price to suit their temp. corporate profile.

I firmly believe that the Mt Carbine negotiation is reaching closure after which the nature of the dynamics of the share will lose her speculation after the intial trading adrenalin rush. Unfortunately or fortunately, IMO, it is very likely we will be confronted with a tungsten target - a conceptual model based on historic data. These can be dicey with the ASX so how this is relayed to the market will speak volumes about the "current board". The insinuation of "current" is also meant as it implies.

I have in the past mentioned a third party and I have my suspicions about a possible indirect JV here and this will be paramount in how the market reacts to the announcement/s.

Given the seemingly unrecognised fact that the drilling will have to be on a somehwat large scale to prove her up, the placement will be necessary and IMHO, if I was controlling this, I would also be issuing notice of a concurrent SPP.

So as you can envisage, their will be plenty of devil in the detail so while the daily gyrations of the SP are attractive to the daytraders, the third party is again taking advantage of the retail monkey albeit in a fashion where the bonus is to all.

IMHO, it is now a dangerous game for the daytrader as their may or may not be a window of opportunity for third parties to sell into you post finalisation of the agreement. i.e their may be a couple of days gap, after the conceptual target has been outlined after which the larger "public placement" will be thrown up within the public domain.

Steady as she goes and the next month will be very intriguing as they botched Bolivia - have they learnt? We'll see in the weeks ahead.