The James Bay deal was for $5m to be spent on the project this...

The James Bay deal was for $5m to be spent on the project this year.
This would keep the tenement alive and fund some preparatory scoping for the DFS.

This is the confirmation of the agreement
http://www.newswire.ca/news-release...ised-terms-with-general-mining-517911091.html
This is what we know so far about it.
http://www.galaxyresources.com.au/projects/james-bay

Its already huge - indicative of a total of 22Mt.
I dunno if we need to go down the PLS road and drill for ages to confirm stupid high numbers - just get on with the biz and build the mine.

Presumably the DFS would come on the back of a drilling program and confirm the figures but its a very easy resource to get at and in many ways very similar to Cattlin. Just bigger and better grade.

I agree. James Bay has not been factored in at all as GMM upside.
I expect the DFS will give us a huge lift along with news of price increases for an imminent 2nd shipment. Q4 is looking very very good to sustain a big lift in our sp.
With only 300m share-holders - this company could be running 2 mines within 2 years or so.