The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Maybe one or two decent RNS’s in the near future will wake up the thundering herd to the potential that is Lexington. Don’t forget the market is still short and MM’s trying to keep a lid on the share price to protect their p&l. Any news should blow this out of the water!
Beautiful survey. Lex with the least requests - shows you how far the herd are from this even after a 100%+ move over the last 2months with a premium raise to add!
https://twitter.com/tmsreach/status/1586306084465422336?s=46&t=_EQskU7FJv-Ob2s3BmYlcA
Yep, should see a decent note post-JK JORC. Noticed two decent buys today - 200k first thing at 5.03 and after hours 200k at 5.10p. Hard to get decent clips at these prices.
And so we await the JORC announcement for JK, which, according to CEO is "up to 100k oz" which will bring us to over 180k oz in total so far. The missing bit of the equation is our new broker who have been very quiet. We are upgrading from Peterhouse to W H Ireland, and if my understanding is right, they have been hired already. However, as yet, we have not heard hide or hare from them. The JORC announcement would seem to be a chunky piece of news for them to be able to break their virginity with regard to LEX and put a small report out.
WHI is a good catch for LEX, they are a substantial UK broker that have a good reputation in small resource stocks with potential, just like us. They have a dedicated mining team, but more importantly, they have discretionary funds at their disposal, and a list of institutional and High Net Worth clients which they can plug us into. That is particularly exciting because given the liquidity situation in LEX, if anyone wanted to pick it up in size, the price is going to move big time. It'll be very interesting to see what happens if a WHI report comes out. We already know what the Gnomes of Bangkok are thinking, they are still picking up stock. If we get a buy recommendation from a major house like WHI, heaven knows what may happen to the stock....
These guys are relentless!
If you take into account the conversion of the convertible issued in April, it looks like Pure Ice increased its holdings by well over a million shares in the market. Still adding. Investing rule of thumb, if directors and/or major shareholders are buying, so should the man on the street be buying too!
I see the Ice Man has increased holding post fund raise.
With you on that one Iptuf, just a matter of time before the speculation as to the size of JORC reserve to be announce at Jones Keystone is announced. As to new projects, well, in my view, we have a choice between more Carolinas as there's quite a lot close by especially close to JKL or Southern Africa, let's see what the wind blows in.... either way, potentially exciting times!
Consolidating nicely. Resetting techs for the next push. No raise news overhanging us anymore. Jorc due early Nov so anticipation for that to start building shortly. As for new license/project - could drop at any moment!
I hear you Boracic, throwing caution to the wind is never a particularly good idea, especially in a business like this!! However, the old Tanzanite one days are behind us now, I have to admit, I was never a shareholder at that time, I understand it was very painful largely due to extra legal occupation by illegal miners encouraged by the Tanzanian government.
In the end, it is the nature of any new deal and the price that is going to decide whether the there is good value for shareholders. We can only wait to see what announcements are forthcoming. But at least we know that the cash just raised, is largely going to be applied to the properties we have under our control. Just thinking about what these things may be, I recall Iptuf waxing lyrical about a couple of mines very close by, Jericho hill, Hoover Hill etc., and others, that were worked on recently by Revolution and Orford Mining. There were some links in that message with a lot of detail. That would make lots of sense as they could all be managed in the same way as Haile, which is NOT one single deposit but a group of them.
All very thought provoking stuff. All will be revealed.
While it's good news that the raise was at a premium and that shows confidence in LEX' future, I'm not happy with any dilution when trying to make up for a massive loss.
I do reluctantly concede this sounds the correct move if this allows the full drilling exploration of the Carolina sites and JORCs for all of them.
This should happen before any new ventures in other territories, as
1. Would not want management's attention split between 2 projects.
2. This is especially the case were any new project to be outside a 'safe' territory like the USA: look at the history of this company in Tanzania and even in safe Australia. Rosie, I realise the suggestion of S Africa is pure conjecture but it is fraught with economic and political problems far beyond anything in the USA.
The positive may be that any new licencing agreements etc might be a little cheaper bearing in mind the current subdues gold price.
Should be 25
Love and peace
I'm shocked they were able to get that price for the raise in this environment. Board & Pure have played a blinder here. New license in Carolina's sounds like a new play rather than just increasing tenement package. Good to see work starting at Jennings Pioneer - alongstrike from Barite Hill which is similar in size to JKL.
Have to say, I am with you on that Ham. Seems the market has taken this very positively, we're in price positive territory for the day now. Hopefully we'll be testing the recent highs later and the 6.50 level of last year soon after; and then? Who knows!!!!
Not surprised in the slightest. No one is going to invest that sort of money at that price without knowing what is in the ground. Pretty much a de risked investment as, no one is going on a mass sell off pre JORC
Only my opinion, it matters not!
Love and Peace
very surprised they were able to raise at almost the existing share price..
Possible acq coming and then Jorc in Nov
Fantastic raise when so many other companies are raising at huge discounts. Ice man involved again and that just gives so much confidence in things to come
Looks to be a very good raise price in todays tough market. Just compare it with Rockfire who have raised today at a whopping 50% discount.
How do these guys do it? Well we know that there are some seasoned pros running this company, but in April they raised a 350kGBP convertible at 3.2p/share, a 15% premium to the price at the time!! Now they have done what looks like a GBP500k private placement to at a 13% premium to 30 day VWAP and a tiny 7.8% discount to the mid point close last Friday. Not only is the price demonstrating that they have a good following of high quality and very supportive shareholders who are not just looking for cheap stock, they are in for the long haul too.
Pure Ice is there too! Expect TR1s in the not too distant future there.
Obviously, capital raisings and dilution is not everyone's flavour of the month, but the pricing here means the dilution, as per the RNS is just over 3%, nothing in the greater scheme of things. Management is also beginning to flesh out its plans.
1. Get the JORC for Jones Keystone out, still expecting 100k oz, hopefully more,
2. Exploration reserve for Carolina Belle
3. Plan Drilling program for JKL next phase
4) Start work on trenching etc at Jennings Pioneer near that old Barite Hill mine.
However, to me, the most interesting thing about this is that management are saying that the success they are having in a relatively "unsexy" area (the Carolinas) has led to opportunities coming their way. "Ongoing due diligence, evaluation and negotiations regarding the potential acquisitions of additional gold tenements and gold projects, both in the Carolinas as well as other well-known major gold producing jurisdictions" is the way they describe it.
So what can we take away from a statement like that? Well 1. they state that it's gold prospects.... 2. Some of it is in the Carolinas, and we know that there has been quite a bit of renewed activity in the area.... and, most intriguingly, 3. in "other well known gold producing jurisdictions. Where could this be? Given the CEO's nationality and the Chairman's long association with Southern Africa, you'd have to bet that outside the USA, its in that neck of the woods. We also know that there is "ongoing due diligence", indicating that a deal is actually in the works! you don't spend money on due diligence unless you are pretty sure that there is something out there worth having....
And so the plot thickens, it seems that LEX has a few tricks up its sleeve. Could be a very interesting run up to Christmas and the New Year!!
Heavy volume, lots of selling but maintained 5p base so far which is great to see. Coming up to 3m volume so flushed out a lot of sellers. Can see more anticipation and another move towards 6p short-term.
Profit taking. I wouldn't be doing it here. I am buying in the last half hour. JORC announcement VERY SOON!!!!! Keep the faith!!!! We're taking a breather here, which, having gone up 40 odd percent in the last couple of sessions is well deserved.
someone dumping a few this morning?
Yep I saw that. Advertised spread changed to 5 - 5.8p. We gunna see some delayed buys popping up over the next couple of days? Anticipation building for JK & combined jorc.
Very strange, not sure if you noticed the MMs but up the offer from 5.3 to 5.8 AFTER the market had closed. Last trade was 5.3. Odd to say the least though it indicates that the MMs must be short. They're afraid of selling stock even up here, and not much natural selling has accompanied this move up. It's very tightly held..