Worth bearing in mind we have 3 classes of shareholder atm ... *...

Worth bearing in mind we have 3 classes of shareholder atm ...

* Those legacy holders who probably couldn't believe their luck yesterday as they sold their holdings to new buyers at prices up to 5c ... some of those though would have still been holding at yesterday's close

* Those that bought today between 5c and 6.6c, they will have bought from the legacy holders that didn't sell yesterday but couldn't resist selling today and they will have bought from those who bought yesterday and sold today for a 24 hour bag or two.

* The usual day traders providing their liquidity at unexpected moments

Net result of this is that by today's close I would suggest that a majority of holders holding right now will have bought today at prices between 5c and 6.6c and the sell off at the close today would have been from legacy holders and those who bought yesterday.

Consequently we should go into tomorrow's session with seriously reduced selling pressure above 5c as almost all holders still remaining will have paid the higher prices during today.

I am told that the true freefloat is around 80mn shares and if this is the case then there cannot be much left for sale at these levels meaning the SP will have to go higher as supply will be restricted by those who bought today not wanting to sell too close to or indeed below their entrance price.

I hope all that makes sense.

Anyway I am not too bothered as I bought on Monday and Today so I have an average nicely below 4c.

I still expect to see this at or close to 10c at some point this week which would be mkt cap of only approx $21mn which with 14+ g/t Au EOH and the other grades then why not.

Also I have compared the drilling maps of the recent ANN and the earlier drilling, while some of the holes are close to the original holes not all of them are and I do see indication that yesterday's ANN does indeed relate to new territory as well as initial infill exploration type drilling on the old.

RC doesn't qualify for JORC anyway but it does certainly show what's there, the question then is what are management going to do about it to guarantee shareholder value.

The first thing to do is to get the SP up as high as possible so any CR is done at the higher level and thus reduces dilution for everyone.

For example 25mn shares at 8c if the SP is 10c+ would raise $2mn allow the site to be diamond drilled, increase the JORC and massively increase shareholder value whch would be a great springboard for the teens and beyond with the SP.

So it is all down to management now let's hope they make the right decisions to quickly create shareholder wealth.

All guesswork atm ... any feedback please as I am new to this one.

EB