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See below report on linked in by Paul Ensor. Well known natural resources analyst and investor fm the UK. Excellent read. About time someone took this stock seriously.. Even more so than W. H. Ireland, the company's supposed broker. Hahaha!!
https://www.linkedin.com/pulse/contrarian-bet-african-gold-chairman-nealon-who-built-paul-ensor-vnsee
So we now have 1) The start of our SA drilling program in an area with SHALLOW GOLD!! 2) We have Australia's most successful private prospector as major shareholder 3) We have a JV in SA with that country's largest gold miner (Harmony) with potentially 2.9mn oz 4) we have a JORC in the USA of 220K oz and potential for over 30mn oz in SA and the stock price over the last 3 months or so is OFF by 40%?
Well, at least 5) LEX is cashed up and has the resources available to do lots of drilling at its prospects, and 6) as per the last announcement, we can expect drilling results in March next year. Only 3 months forward. 6) one would expect that things are going on in the background re the Jelani JV with Harmony and that negotiation to get that moving will be underway soon. Interestingly, the gold in the WRE JV with Harmony grades at nearly 6.5g/tonne as opposed to what they are mining now at Target Mine which is less than 4g. Its way more profitable.
Anyway, 2023 is almost a dead letter now. Buy a few for 2024!!! Cheers all you LEXERS...
Nice to see an update today.
Lexington Gold, this morning, announces the commencement of its South African Drilling Programme
https://www.londonstockexchange.com/news-article/LEX/commencement-of-south-african-drilling-programme/16243665
https://twitter.com/LexGoldLtd/status/1733047849930182840
Correction…Bothaville update acknowledged but this has made no difference to the SP.
Two cents. Thanks.
I think it is fair to say that many investors/shareholders have been incredibly patient in the grand scheme of things but there is simply nothing happening or reported to be happening of late. Yes we have had some updates but all the SP has done is dwindle ever lower.
The market wants to see progress being made IMO and we are simply not being told . Surely the JV with Harmony must be in discussion or not? Is it the case that nothing has happened since all this Witwatersrand project was acquired? I believe not but we need updates from the company (good or bad) and not just given the silent treatment. All IMO.
Next week?....should be the bottom at 3.70..imo
lets see
Was expecting this to break 4p this week, but no, it issues an RNS to drill in SA, then 2/3 days later SP drops. I sometimes wonder how this bloody market works. Still I’ve come in as a new investor (last Friday) at 3.87p and was encouraged by watching the TMT Solutions interviews. Patience needed, will top up if this drops below 3p, though his knows why it would do that. I assume no more 2.75p warrants on the horizon
Mental that this is still trading around 4p
Should be multiples higher and likely will be soon
Haha!! Light at the end of the tunnel? So not only do we have a potentially multi million share short, we also have a 2000m drilling campaign in South Africa at one of LEX's new South African prospects, NE Bothaville. And its shallow. The previous operator hit gold at around 250m. For the Witwatersrand, that is a walk in the park. We are drilling around that hole. For those who don't know what "wedging" is, its a bit like directional drilling in the oil industry. Get to your chosen depth, or just above it and fan out, more bang for the buck in the same hole.
Temperature is rising, pressure is building. Should be an interesting week.....Hoping the Gamestop mob arrives on time....
Not only last weeks fun and games but seen todays RNS?? Drilling to start mid-December!
https://www.londonstockexchange.com/news-article/LEX/south-african-gold-drilling-contract-and-timetable/16224843
It would be interesting to hear, especially from those who bought last week, whether the trades settle with physical stock. If lots of them don't, cat is out of the bag... there is a short MM big time.....
I wonder if there are any "meme stock" fanatics in the UK who love tripping up financial institutions who are short... LEX could be a fun one for them to have a go at on Monday!!!!
Think we may see this short squeeze really kick off next week
Yep i think someone has fcuked up here. I reckon there is about a 5m short which they are now trying to buy back without affecting price too much
Could get very squeezy indeed. But even that aside it shouldn't be here trading sub 4p. We were at 10p in anticpation of this asset being acquired. Now we have it and drilling due to start soon. Multi million Oz Gold resource
There is my 500k buy at 3.7p printed. Hopefully i'll be selling it at 10p again in Q1 2024
Re my earlier post, the section in the website that mentioned the 7.34mn warrants exercisable at 2.75p that expired yesterday, has now disappeared. I think Genius is right. If they were exercised, they would have to put out an RNS. The fact that they have not done one indicates they have expired unsubscribed. Thing is brokers are not that well known for leaving money on the table. In this case, 45 grand at least. So what were those trades on Tuesday? Over 5mn shares traded at between 3.5 and 4p. What was that about? I had thought that maybe a Market Maker was selling shares in the market on behalf of say, Peterhouse, and that Peterhouse exercised the warrants and gave them the stock back, so no more short position. If those trades were warrant related and Peterhouse didn't exercise their warrants, that indicates there is possibly a short out there of around 4.5mn shares. That would take a lot of covering!! And would push the price dramatically higher.....
Worth a punt? I'd say so, and this is in addition to the fact that the stock is dirt cheap and great value.... The other interesting point is that because the warrants were not exercised, there is no potential overhang of stock anymore.
Because warrants weren't exercised. They also haven't been extended so thats that. Done.
I'm wondering if Techguru is right and we potentially have a bit of a short squeeze if they've sold a lot of stock and assumed they'd get an extension. Now stuck short trying to buy back
Why no RNS re warrant exercise yesterday... very strange
Market bidding for stock frantically lol
Well done you guys. I am still sure those trades on Tuesday were expiring warrant fuelled, Let's see. They were due to expire yesterday or be exercised, November 23rd. I am watching to see if the website is updated.....
Peterhouse had their warrants expire yesterday. They haven't been exercised as i asked the company.
Someone been selling constantly down from 6p. STFL been facilitating. Now the warrants have been cancelled after expiration yesterday ghere is no way to cover. So they'll have to buy all that stock back
Could get pretty interesting if so. STFL bidding as we speak now :)
I also bought another 250k at 3.68p to average down. Can't find any reason for it to be this low. Expect we'll get a decent reversal soon
Think its the right level to be buying. Really surprised to see it down here but they should st5art drilling soon and then it gets exciting, especially with the gold price flying. Plus they raised a load of money at 6p so fully funded