Disappointing but predictable response by the sp today. We read...

Disappointing but predictable response by the sp today. We read the announcement and we are excited by it and we think/hope that hundreds of other people who have previously had no interest in Reward also read it, understand it and immediately want to get on board. They don't. But over time, and a relatively short time, they will, and this is only the first of several announcements to come. My guess is the limited buying today was either from people we know or people who were already actively waiting on the sidelines before jumping in.

That opening paragraph was not the purpose of my post, more of a by-the-way. My personal enthusiasm for Reward has translated into a number of friends and family owning shares and thus having a mild interest in our activities.
I received a number of calls today from these people asking me to explain the ramifications of the announcement.

To be fair the boss did put out his usual relatively technical announcement without a deal of commentary and because he is not able to, no prediction of the scope for the future. So I have been translating the announcement today. It struck me that I am certainly not the only person doing this, so I am posting what I am saying for you to critique - tell where I am over or understating. I really don't want to mislead. How are you explaining the report to people?

What I am saying:

The announcement is very good news all round and is the first in a series which have the capacity to be absolutely fantastic news. For some time now the boss has been contemplating how the potash in LD gets there, how and where does it come from? This drilling was to test a theory that LD was replenished by underground channels.

Because we did not have correct environmental approvals we had to drill from where was convenient, the stock route, and not where was optimal. We drilled towards the edge and not the centre. Given this limitation, the results were first rate, 50 to 80 metres of brine containing potash at commercial levels. This is up to 40k from LD. The company is now of the opinion that when we get to drill from the optimal sites, 50 to 80 metres may turn into 120 to 150 or more metres.

I have more experience in small oilers and a saying we use with great effect is 'same siesmic, same area, same result. This may hold true for all liquids and if it is true than today's announcement is very significant because we have channels over 200k of same area, same siesmic to drill. Not to mention a few more lakes.

The boss has mentioned 500 million to a billion tonnes and today's announcement is a great first step in proving that up. Another good indicator is the decision to drill LD itself to 100 metres, currently the JORC is based on drilling to 4 metres and it was previously thought potash may be found to 20 metres, we are now hopeful to find it to 100 metres. Indications are that the deeper the richer for the potash. If the new theory is correct it could prove up, up to 500 million tonnes in LD alone (25 times 25).

I felt uncomfortable running through this today, particularly after my recent maths debacle. Points of interest, agreement, disagreement. your thoughts please.