Maybe the assays are back and an appraisal is being made.Anyway,...

Maybe the assays are back and an appraisal is being made.

Anyway, the budget for exploration this 1/4 is $1m i think, down a fair bit.

You may not have noticed, but the SPP-raised $10.7m is being used for the mine reinstatement as well as ex. The mine work was to be paid for out of the proposed $20m loan, but that has not been secured yet. I suspect too that some jorc work is going on at Fortnum as part of that securing process.

My guess therefore is that exploration work may slow down somewhat until the loan is in place, as the SPP money may be otherwise used up.

The trading (in)action of late accompanied by a slowly reducing SP does not inspire confidence. But games are being played there perhaps.

The options are still OK (out of kilter to blazes in fact)and my research tells me that 1 particular Sydney broker bought $2.31m worth of shares between 22/6 and 14/8 and did not sell one share during that time. That broker (Foster) was the most active buyer. However, Argonaut of WA was quite active too, but as a nett seller. Arg has been involved with rni for some time, in fact raising the money to buy Fortnum earlier this year. Their activity muddies the water somewhat though, but there could be some SIs dropping out and some profit taking being realised (the SP did get down to 23 didn't it?). I hope that is the case.

Cheers.