accumulation today, page-3

Still believe there's considerable option overhang in the market... there's 20,000,000 outstanding 25c options that expire in less than 30 days.

Theoretically all of these options should be exercised, bringing in $5m to the company.

Downside with this, it's likely a bunch of these shares will be sold onto market, or people who hold shares have been selling them and raising cash to exercise options.

My gut says that after August 30, we'll see some upside again.... and beyond then hopefully a JORC upgrade of Hermes to build on their 131,000oz. Don't forget there's been LOADS of drilling at Hermes since 2008, with high grade results and increases to overall strike length... hopefully there's a significant upgrade there.....