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Gold and copper are the two current metals that are "in fashion", more so gold. The best thing about the current drilling programme is that it is looking to add to the gold resource. at $2k per ounce for every 100k ounces that is discovered that is an extra $200m value.
I'm not saying they will discover millions of ounces but a fair estimate is that they will most likely add a few hundred k.
When this news hits the mcap will easily hit £50m which is around 1.5p for the sp so there is plenty of upside to aim for.
There are outstanding warrants but that does not mean that they all will be exercised. You also need to consider what the company is currently doing which is drilling to increase resources of copper and gold on what is already a billion dollar asset.
News will arrive in the next few weeks concerning this. At the moment there is around 200k tonnes of copper and 100k ounces of gold as resources in the hope asset. If this resource is increased which it will especially gold which wasn't looked for in previous drills then the sp will rerate.
Current copper and gold resource in hope asset is worth $1.2bn and $200m respectively. If the gold value goes up nearer to what the copper is worth then the share price will explode.
Too risky to be out as news could come any day now
Hi Trellis
Yes, I recall that you don't have the highest opinion of old Mr Read! : D
Anyway, it's nice to see you well and in good humour.
Hi Trellis .
If your friend wants to do some research on Asiaphos, then this site containing all their company announcements might be a worthwhile read - https://sginvestors.io/sgx/stock/5wv-asiaphos/company-announcement It's what I'm keeping an eye on with regard to whether they announce the acquisition of MMJV Limited.
MMIH are more of un unknown quantity to me, however before his departure Laurence Read was impressed with the calibre of people they'd added to their Board. He believed it made them a "more serious" company (if I recall his wording accurately).
Hope that helps.
The good sign is this sp is stable now the rise will come
30m sold v 10m bought by volume
£88k sold and £28k bought.
88 sold or bought?
£ k that is
28 v 88: bought to sale ratio at mo
Strong buy signal.Time to be in for substantial reward fore massive coming update.
The "contract update" refers to the reverse takeover of Asiaphos by MMIH Limited on the Singapore SE. The parties have until 31st October to move the process along, otherwise the heads-of-terms as previously agreed expires - we're therefore anticipating an update shortly before or after the end of this month.
I assume the comment regarding the JV refers to Colin Bird looking to bring in another party on the basis that the imminent drilling results are suitably attractive.
It makes little sense to be buying in just a few days before an expected announcement, as this strategy will be applied by lots of people and so you'll be paying more and then worrying about timing your exit just before the usual wave of sells when the RNS arrives. It's better to get in early and take advantage of a more protracted rise.
Jv Under Discussion And contract update imminent .Dyor
One of Huge Under value and great investment opportunity.This always move very fast.Huge reserves