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At least I understand that mentality and seen it happen with many on AIM but think a £50m market cap when you don’t own what your exploring is very optimistic
That's my guess for mcap on HER at the peak of hype from the drilling, I would prefer real valuations but no company gets valued at what it's technically worth anymore it's all just hype and sentiment of the day. Be it a £1b+ mcap oil share on a discovery with no infrastructure or a £100m+ mcap miner with a map, a pick axe and little to no cash or a £50b ftse share that's lost £1b every quarter or trading at 100-500 x earnings we've all seen them. It's a broken system which places the wrong value in things and driven by greed. Monday traded 1.7b shares and the price doubled on an rns which didn't really show anything new apart from drilling commenced. When the drill results start to come out people will see x zillion tons of copper / gold / silver and give ridiculous estimates for the share price based on the current total market value of minerials in the ground and buy the share ignoring the fact that it costs money and time to get it out the ground, that it's all estimated, the fact that the company only has x left years on a lease or that the company has x% stake and pays x% royalties and only makes x-y. Price gets hyped beyond logical rationale. If Great results HER gets hyped to £50m mcap then settles to £15m mcap. Price beyond that depends on what the company does next. That's my guess lets see how it plays out.
On FURTHER good drill results later next year..it's conceivable to achieve 1p
£50m market cap, and what assets do Herencia own that are valued at that????
Best case on a great drill the highest I can see is 0.3-0.55p depending number of shares issued at the time (at 17b shares being fully diluted) that's a £50m mcap. More then happy to be proved wrong in time if I'm low balling it but I can't see it being 1p Im hoping At least a £15m mcap on drill results anyway. Gla.
Not been 1p since Feb 2013 and fundamentals certainly have changed
The last time the sp listed at exactly 1p was 5th Oct and fundamentals heve improved .... so just a matter of time for a rerate IMO GLA LOR
Any idea when we will hit 1p +here again
Anywhere between 50 and 250m. As you say 150m a day is probably the most they will achieve. Probably end of January before any results are released unless they hit something extra special. It would be nice to have someone there with a handheld spectrometer uploading the results while they drill! I’ve been holding and averaging down since before Fukushima and through the downturn thereafter so a couple months more wont make any difference.
250m a day is going some, can’t see it been as high as that 150m per day max I’d guess at.
They won’t be using a diamond core as it’s slower and costs more and requires a reasonable water supply. That have stated they will use reverse circulation most likely with a dth hammer. This means that they will most likely bag up a sample over each metre drilled and test it. Anywhere from 50m to 250m a day should be achieved depending on the rig/gear used and strata encountered!
with the new diamond core drills with the a hollow center it will not take long to get the samples ready