Some pretty sizeable orders appearing on the buy side and no hurry to sell on the sell side, early in the morning trades still.
Still no Jorc just estimation.
I think we are some time away from Jorc now after reading this.
I had thought we would have heard what the preferred beneficiation process by now.
At least after all the money spent we have a resource of at least 21 million tons of ore above 15% and only 37 million tons of heavy beneficiation material.
The other point that gives me some positives is that they have only drilled a quarter of Barrow Creek 1 and they have yet to complete their first drills at Ammaroo 1. The teaser is that it is going to be at least another 4 months from what I read for a clearer picture before they look at doing a Jorc Compliant statement based on what they have presented the market today.
Break even, yes but it will be while depending on when you bought into the market.
It might be a case of buying small parcels at lower prices to bring your initial buy order price down as the price goes up.
Anyway it?s a beginning and after the last 7 months holding the stock I am pleased they have gotten some results to the market at long last.
I am still of the opinion that it is a long term buy, and not a short term buy.
RUM Price at posting:
25.5¢ Sentiment: LT Buy Disclosure: Held
