George, You are of course correct about reserves and the amount...

George,
You are of course correct about reserves and the amount of drilling that they would have done by the end of June should enable them to report a substantial increase in reserves - it will certainly encourage institutional buying again and even our two substantial holders in Ruffer and Arbiter will be encouraged to increase their holdings.
Up to you whether you increase your bid price - I think all the bad news is behind us now and the threat of a capital raising is gone. I am bullish on the gold price also. I'm probably going to sit on my current holding now in the name of diversification although it's still tempting for me to gamble a little bit more - it might depend on how my other holdings go. Good luck.