Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Worth remembering AW's words from the 3 April RNS "East Star believes the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company and as such will only consider proposals that offer a fair valuation for shareholders and exposure to the near-term production potential of the Copper Deposit at a time when a multiyear copper bull market is being predicted by most market analysts.and as such will only consider proposals that offer a fair valuation for shareholders and exposure to the near-term production potential of the Copper Deposit at a time when a multiyear copper bull market is being predicted by most market analysts."
That "East Star believes the value of Verkhuba alone significantly exceeds the current market capitalisation of the Company " was repeated on 10April under questioning in the presentation, when the SP was at today's levels.
One cannot place one's entire faith in the words of a CEO talking his own company up, but....that's as clear and positive a statement as I've ever seen other than in the mouths of charlatans and fraudsters....which AW is not. The JVs with BHP etc speak to that , those cos would only partner with a serious operation, imv.
So I'm happy to hold here thru the JORC and beyond. Let's see what happens in midsummer with the FO talks.
Standard clause for pre revenue companies, to be expected. Those funds could easily come from a farm out or JV deal.
Yep, JORC before April's out and then expect the other offers to role in. Got to remember - we've got another 300% near-term upside from JORC as it does not account for underground resource.
The Directors plan to raise further funds during 2024 and have reasonable expectations that sufficient cash will be raised to fund the planned operations of the Group for a period of at least 12 months from the date of approval of these financial statements. The funding requirement indicates that a material uncertainty exists which may cast significant doubt over the Group's and Company's ability to continue as a going concern, and therefore its ability to realise its assets and discharge its liabilities in the normal course of business. This has been detailed in the auditors report.
Well, with a Mcap sub £7M, and 50% of the shares in the hands of 3%+ holders, there can't be a whole lot of tradeable stock, surely?
I'm not a day trader so mb I'm wrong here, happy to be enlightened.
Hopefully a few solid copper bars!
Reads well. Licences rationalised. JORC imminent. Field season will be action packed (other VMS targets to be drilled, Verkhuba too). Interesting to see if BHP follow up with further investment. Real spread seems to be 3.2p-3.4p. At least they're offering buy quotes within the spread now.
We are waiting on two key pieces of news
JORC - due within a week or so
Commercial offers - June 2024
The JORC will set the tone for what the offers will be like. But what i have read so far. The Verkhuba deposit will be like mining a solid copper bar.
Looking very promising and reminds me of the early days of EUA back in 2019 when they talked about interest .
Time is right with copper on the top , really looking forward to seeing what the inferred JORC resources are, good news is not too long to wait if we are going on Alex's timelines
In April 2024 we announced that because of interest in the Verkhuba Copper Deposit having been received
from several companies, we have initiated a formal process including the opening of a data room for a
potential joint venture, farm-out, or sale of the deposit. The process is expected to be finalised in June and
although there can be no certainty that a transaction will be concluded, the Company is confident of receiving
multiple commercial offers
Link to the company PDF - https://www.eaststarplc.com/_files/ugd/9a9edb_63c63aa11a7a48bba39e9ab3579ea4b2.pdf
It is excellent reading, No idea what the market will do with these numbers
High volume the past few weeks.
Just a couple of days mms NT the stock doesn’t make it illiquid.
One good thing about it is that it locks traders out.
Well 24 trades todat totalling
This is not an illiquid stock
It is illiquid because it is being held down with a wide spread
Absolute rubbish to say it is illiquid
Will take a mill at 3.125p. Illiquid but taking size well within spread. What does that tell you?
Straight to 6p plus on JORC news then
Try out dummy quotes. They're happy to take them off you but won't offer a buy quote within the spread. Of course it's only 9 trades when no one is selling and they're putting off buyers.
Just 9 trades on SETS today, worth under £5k. It's simply an illiquid stock.
Btw, the title of this thread is JORC. Not MMs, which should be started on a new thread. Just sayin'....
They are supposed to provide a market. They are xxx t s
These Malevolent Morons still at it! 3.177 print is a sell. Totally false spread. Mark it up already and do your damn job!!!!
They want 3.75 for only 100k shares
I concur. NT to buy small amounts, premiums for even £5k. Eager to take them off above bid. Let it go, MMs, no one buys the false early AM shakeouts.
Mm s have got to create a market and raise the bid !!
Can't buy a bean at 3.2p don't hand over your shares to the market makers who will sell for you at a much higher price GLA
MMS need shares.