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Floater this is what gave is the indication that this was huge back in the early days when they were drilling constantly during their summer months
It's dark underground anyway! Permanently night. Get back to work you lot :)
Z
They work at night in the hot season - simples!
I've seen they switch to night drilling during the hottest period to mitigate the heat issues.
Napthman - maybe I was incorrect in using the word "shutdown" and was not meaning all work stops completely, but as I understood in my head from some historic posts on the board then the drilling work slows down or stops in the really hot Oz summer months; but I might be mistaken.
Floater have you been invested in GGP for a while? They don't shut down for summer, they still go 24/7 no messing around by Newcrest at Havieron
There is no doubt the recent SP “decline” depending on what timeframe you look at it over, is an attempt to flush out weary PIs and let instis in at mates rates. Today has confirmed exactly what is sat there as an asset, ETFs on board (just remember that is 3%+ in sticky hands) and more to come multiple other drill targets. The mms will have to raise this after today to get people to sell.....who would after what we heard!? Even if they drop it to 2p I wouldn’t sell a bean. The us printing money to oblivion....gold will surge long term.
As for paddy, worth his own weight in gold that chap. Glad you got your day my friend and hope this company sets you up for everything you want or need in life, as you have definitely steered so many along the way with your efforts here!
So to all the (maybe panicking) Newbies out there or people bought in at a high SP price and those anxious for a broker update - just be patient and hold out for the bigger news to come.
As much as I would like to see a broker re - rate, to try stimulate the SP, then I'm also thinking why the rush. So in October we are expecting drilling results from Scally and NCM HAV drilling results at end of the month, with the aspect of an MRE in December - which may also include another 6 weekly (or less) update on HAV drilling before summer shutdown.
So would we be expecting a broker guesstimate re-rate before Oct drilling results or a more generous re-rate after MRE ? Brokers don't throw out ratings to satisfy the PI's on BB's; they issue a rating for the overall market based on valid calculations; so they'd rather wait and get a full set of valid results to make a valid calculation on the rating.
Although I was in holiday last week, I seen the rabble of posts from the lost sheep, de-rampers, rampers, the educated and just some general tosh posts with the usual expected panic after the SP hits a high and then retraces back a bit.
YES, the retrace was steep but so was the climb towards it that whole week. Some were expecting it to strive on up but the MMs and Brokers were always in control and milked it for their needs and satisfied their Clients (rather large) needs, who bought on a price and not on quantity.
I would prefer that they wait. That way they will be able to give a more accurate estimate, and it will give us more chance to top up as it could move the SP
How can it be delayed if there is no hand in date.. Fair point addick.. But
On the note released on the day of the last results, Hannam stated that the valuation was 'under review' and did not produce a target price. They absolutley could have calculated this on the Thursday or waited a couple of hours and released it on the Friday. This upcomingThursday will be 3 weeks since this note, in my option I would classify this as a delay. We have yet to receive any note from Berenberg, they were announced as joint brokers 30th July, I would say that this also getting to a delay stage.
How can they give a value when they haven't found the perimeter of Hav and haven't got any results from Scally?
That’s a fair point AM and GH today was in radio (almost) silence still today . Why is that ?
AM90 - What delay? There can only have been a delay if the target date has been missed. I am not aware of any such date
I agree. Notes won't be used to drive the SP, they'll be used to validate the news which will likely be released a day or two beforehand. Hopefully, that will be Scallywag related.
GGP pays for the notes so no surprise they are timed to be released around a news release
For me the delay to the notes are interesting.
Why would they continue to delay? The Hannam excuse of 'we are still working it out' is complete rubbish. I suspect the delay was partly because of GDXJ, in that nobody really knew how the SP would respond. Of course it should not really matter because a SP should be based on company fundamentals, but obviously there is a strong element of fudging in these notes.
But a continued delay becomes more interesting, my limited understanding is that broker's tend to know everything about a company. What could they now be waiting for? Maybe the Hannam and Berenberg notes will come out this week. But any continued delay to me suggests they are waiting for something to drop, more specifically they know something is about to drop. Remember the 17.8 p Hannam target was released a matter of hours after the commencement of drilling RNS at Scallywag - this was obviously planned.