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"Reason. Yes it had changed. We got to 7p on the back of great drilling results and whether or not people's expectations were misplaced over the assays they were perceived as poorand hence the drop.
Market will be expecting something juicy before we see any decent rise."
Thanks for the above reply 3Card . While it was clear that the 2nd and 3rd assays weren't perceived as necessarily favourable, the majority of the sp drop had already occurred before they were published , I'm now assuming because the market decided 'no news is bad news' when it took longer than expected to publish these assays, bearing in mind CB's alleged penchant for delivering good news fast. And the market has continued to lose confidence even with the increased drill area, which could be construed as a long-shot move designed to maintain project momentum and interest. My opinion FWIW is that way too much has been made from a few scattered pin-pricks either good or bad, and it is all completely in the balance; but the possible upside of 20p+, plus the residual value from the other projects, plus the cash in the bank, makes a 4p sp more or less a free hit chance of perhaps quintupling your investment. Would love to hear a counter-argument though as I am still new to, if not unsuccessful in, this sector.
''The market value is going to end up being either negligible or into the hundreds of millions depending on Bushranger.''
There are a whole sea of possible market values in between those two extremes reasonman, the probabality of any of those is in the same ball park as the two - of MANY possible - outcomes you mention above.
Reason. Yes it had changed. We got to 7p on the back of great drilling results and whether or not people's expectations were misplaced over the assays they were perceived as poorand hence the drop.
Market will be expecting something juicy before we see any decent rise.
Shares are, once again, heavily oversold from a technical perspective, the RSI is now turning up, looks like the tide may be about to turn.
Some form of news next week anyone?
some nice chunky buys coming in,is there someone loading up or are the investors starting to see the potential in this share know.
What I don't understand about people selling is that nearly the whole game is still in front of us. The market value is going to end up being either negligible or into the hundreds of millions depending on Bushranger. Has the win or lose equation changed much since we were at say 7p? What are the odds of a successful outcome (of Bushranger achieving a big enough volume to sell). The current price seems to suggest at most a 20% chance of success, notwithstanding factoring in any negative betting on future fluctuations in the copper price. It that a fair reflection?
They've finally changed the bid to the actual price. Lets see if it can even turn blue today. Surely this share has the potential to multi bag from this point onwards.... just patience required here.
sea of blue and the price is still down,what a joke
Obviously very disappointed with share price at mo given the fantastic prospects for Bushranger
Steadily adding my SIPP £400 each month as I’ve done again today
Each month thinking price must have bottomed and each month wrong at mo
Not worried- fully expect those £400 purchases to be worth £2500 each in a years time
Plenty of news in next 6 months GLA
I just bought another 166,000 at 4.05p bringing my total to a little under 800,000. Fingers crossed it moves to where we all hope!
Great entry point from here, with a mcap of £34m, fully funded for a huge drilling program this summer and fantastic prospects of Bushranger and other assets. Personally down 42% on this with an average entry of 7p, so I am very jealous of those picking up shares at these prices. Looking forward to getting more results back from Bushranger and seeing the second drill program get started. Hopefully we get the additional IP survey lines soon.