Well guys, I had it a little oversold eventually yesterday, but...

Well guys, I had it a little oversold eventually yesterday, but only just.

I take it this was the market selling back into the initial gap created on open but we had a rally towards days end.

Gap closed intraday but obviously not on an open close basis.

It seems pretty open slather atm with the mms only getting a hold of it around the middle of the day and starting accumulation at 37ish.

IF on screen is anything to go by it looks like supply is dissipating and probably why that buyer jumped at the 37.5 late yesterday. I try and tell myself never to look at on screen depth cos traders will nearly always have trailing sells a couple of pips up.

Just how today works out will depend on how r much previous buying was based on the longer term fundamental story and it seems to be panning out the Billy way yet again. Either uve got some great researching ability or excellent connections Billy !!!

The announcement was very strong in its statement and one can add that with these grades potentially being underdone becos of the drilling fluid fraction that the actual grades may be higher again.

They also mention that its possible to visually see the potential porosity in the brine bearing sediments and talk of brine IN FLOW thru these sedimentary fractured rocks

Geologically its an interesting resource as it appears to be a feeder channel and these very high grades with minimal impurity would confirm that this resource is either very close to or at the originating point for the Li resource.

There must also be some form of decent sub surface water source to be feeding this channel

Ultimately if the geology is consistent down stream then the resource will follow that geology so it would almost be a shock if this resource trend didn't continue in the next few holes. But this is a very geologically active region so unusual stuff will happen at times.

Sorry bout the fundamental rant at the end but whichever way u look at it the fundamentals will control this sp for a little bit yet.

Gr