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Good post Major Tom.
I’d never forgive myself if I missed out on what’s about to unfold with IRR. Having researched the good and lithium to the best of my ability, I’m now quite relaxed.
Darren, don’t just look at a connection with China but look at what IRR have done with joining the EBA to be part of the European Battery Alliance recently and why that’s so significant.
If you haven’t done so already, look into the type of spodumene at Ewoyaa and the potential to double or triple the MRE and then who might be interested and why. It might bring you back to China or it might lead you elsewhere.
I’d say Vince has so many options and is in a strong position after building such strong foundations.
Exciting times on the gold and lithium fronts.
Over the years I have learned that if I hold on a rise and it drops back I beat myself up. However, If I sell on a rise and it keeps going up I beat myself up even more.
Once you've sold on a bag hoping it will drop back only to see it 10bag is a killer. Im not zGinf IRR will 10 bag but I would rather loose some of my inital investment than loose out on my expected upside.
Nowadays I research the life out of small caps, find ones with clear paths to growth, who I expect to multi bag and I hold until the story plays out either way.
All I need to do is get more right than wrong. Thankfully, I am achieving that nowadays. I no longer beat myself up about not selling at the peak every time an SP retrace.
Been tempted a few times to trade this when it's hit 20 last few times,but always expecting it to rise not drop,could have made a good few pounds.thinking it might be risky from now on with what's happening with lithium and the on going drill news could drop anytime on either.going to hold and see what the jorc brings see if the price rerates then.
The 7p raise didn't really tug at my heartstrings either :-D
But it brought AIM placee farmers in who maybe otherwise wouldn't have looked at the company.
AIM in general is a sell on news type of party. I've given up trying to rationalise it. Rightly or wrongly some people read the RNS this morning, saw the clear reference to this being the last P2 results and decided to dump some or all and buy back cheaper.
It isn't specific to IRR but it certainly gets felt the most here.
Every milestone is a step closer. P3 results, Zaranou MRE, Ghana value adders, Chad progress update and hopefully all the while the macro backdrop will continue to edge into our favour.
Bozi, no problem I know it wasn’t meant as advice. I think it is borne out of sheer frustration with this. It is without doubt the most infuriating share I have held and I am not pointing the finger necessarily at the bod, although they have swapped and changed direction a few times. And I never thought I would see the day that they would raise at 7p. Just sick and tired of the same old pattern when good news is released. Oh and our once ‘small free float’ isn’t anywhere near as small as it used to be. Roll on quarter 1, it’s got to change one day!
I thought we were due 12 RNS by EoY, so after today’s very positive one And the AGM one, there’s still ten to come. (Which will be be the biggest?)
I’m not sure about LTH selling on news. I tried it once when I first bought in and got burnt as another RNS came along quickly and I ended up paying more to get some of my holding back.
I have a trading account with IRR in but it’s sitting on 12p average so I’m letting that run.
To be honest if people can trade it then fair enough but one day they’ll get caught out on a Rerate and or BIG news imo.
This is an exciting bit below imo.
“Drilling to date at Ehuasso has intersected both narrow high-grade and broad low-grade intervals within both weathered and fresh zones. Our early ounces strategy is to target weathered oxide mineralisation, with initial observations suggesting it continues to average depths of 50m and up to 90m, suggesting simple mining and processing at low operational and capital costs”
I love this #EarlyOuncesStrategy because that’s where the money is with low Capex and Opex. Simple open pit mining, generating income across the strike length and we’ve only drilled 10%.
50,000m of 3rd phase drilling and we’re going deep. Why because the gold at surface indicated there’s something lower below 90m as do some one the drill results to date.
Look at this too “With only 12km of 47km of potential strike having been drill tested to date, we have already uncovered three exciting target zones - Ehuasso, Yakassé and Ebilassokro with additional targets M’Basso and Coffee Bean/Super Pit - complementing an additional untested 8km strike of hard-rock artisanal workings and 27km of untested soil anomalies to deliver a pipeline of further discoveries.
“The third phase 50,000m combined AC and RC programme is now well underway with three drill rigs active on site.”
So possibly 4/5 open pits simple mining with low Capex snd Opex. Got to love the strategy to get the most out of the bulk at lower grade while drilling deep for mineralisation, veins and hot spots,
How deep are we drilling? 150-300m ? Have I missed that or 400m?
5m at 33.63g/t from 138m in hole ZARC0013 just one from a number of them that indicates we should drill deeper imo.
*wasn't a suggestion
Well it is pretty easy Mike29 let's be honest. Whilst my earlier comment was a suggestion or advice in any way it is a personal observation noted after 4 years of being invested here.
Happy to listen to any other explanation why the news is repeatedly sold. When you take our "small free float" into account it simply shouldn't happen to the extent it does.
Bozi, I will take that on board. The next time it gets to 20p I will dump the lot then buy back at around 16/17p a few days later. Sounds easy doesn’t it.
If AB has any other news up his sleeve this would be a perfect time to release while we are riding the current little wave up.
Many trading it.
Large holders trading portions of decent positions.
It was clear this would head back down this week news or no news. News helps if anything as it can produce extra liquidity.
Just a case of knowing the game with this one.
When we had the small rise back end of last week there were a few decent sized trades quickly followed by minus trades to cancel them out so even the small rises are manipulated by the MMS - i know its a tired line but was definitely the case last week.
So, the seller(s), for what ever their agenda (!), is ready to pounce and dampen any potential rise. Great data, today, nonetheless. It's working short term, but it can't continue...can it !?
ATB
Historically IRR needs 2 updates, back to back
The first one usually always gets rid of short term holders, the second within 2-3 days give it a rise
We should get some update about lithium sale very soon now that the short term holders are out
When we dropped a bit from 20p yesterday i thought to myself it would nice to get a good RNS to clear us of under that figure. We duly get another good RNS and someone decides to sell for 10-15% less than they could of yesterday. Makes little sense.
ive said before decent rises always seem to end in orchestrated sells. Never makes sense - especially selling for 10-15% less than they could have 24 hours ago.
You're right, nothing ever changes does it ! get a bit of momentum going , put an Rns out which incidentally are most of the time positive ones, then we get the constant sells driving it down again as you say. Been like this for years !
... but as expected and now someone is relentlessly driving this one down with those 15,000 and 50,000 sells.
Feels very orchestrated. I guess you have seen this all before peeps?