Firering Strategic Minerals: From explorer to producer. Watch the video here.
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The sp started to drop after the AGM so the market pick something up
The only issue at the AGM was the right to issue shares GINO. Maybe investors have got wind of a placing. Gonna pick some up tomorrow. This must be overdone!
Well got another 5600 shares at 17.5p I hope I guess right ,looking at this share long-term.
Big dump yesterday, proceed with caution here...
Buying in today. I see the large dump as a positive as it might clear an overhang or a distressed Fund is getting out. Nothing of note at the AGM to merit a near 20% drop within a few days. It will be gas to see this one rise as I am calling the bottom here.
Could have been a failed take over the sp was going up 1p every few days before the AGM
Struggling with this one, really undecided. At this point I should really either sell or top up - again. It won't cost a lot to buy as many shares as I bought at the start!
Bought in at 72p following ST's recommendation in IC at 85p. He admitted it was the wrong call after things came to light and advised selling at 42p, which was clearly a better call and I should have followed it. He said that "The credibility of the senior management of Aim-traded Bilby (BILB:42p) ..... has been shredded....". That's the point. I've done well at times with disasters before, such as Carclo, saying "OK, I've messed up, but knowing what I know now if I write that off would I still have the faith in them to buy this now, this cheap?" I did top up small at 20p, last November. Now may well be the bottom, but unlike Carclo I can see no particular reason why this should come back with all guns blazing at this moment. Is this management really on the ball? They're not old. Simon Thomson pointed out that Ruffer and Northern Trust both bought at 100p from the chairman and his son so would be sitting on big losses. But Ruffer, whom in general I really respect, do seem to have the faith: they bought more with perfect timing right at the bottom in March. I think they'd have gone elsewhere if they didn't have confidence in the management: if you were buying then there was a lot of choice! That's actually quite persuasive as they surely get to meet them, as will have ST originally.
This may sound like a de-ramp, it's not, I'm just trying to work it out. So, please, you're welcome - tell me why to top up again!
ATB all.
Looks a good call now. Into the 40s and the rerate is well underway. Nailed on to keep climbing as I can't see the SP being hammered like before.