RE: Positive MomentumToday 11:13
There are roughly 3 groups looking at this:
. existing holders who have bloody miserable averages from believing the rampy talk from Feb '23 onwards, that promised sales and '10k tonnes per month' from the Feb '23 rns about sales starting and now looking to bring their averages right down but waiting for cues from the sp, as they've been v nervous about adding in the 4s for fear of it dropping further
. new investors who look at the rns' from last year and, now that the road is being sorted (and someone stumped up £1.6mill with shares issued at company discretion, rather than cln holders so no undercutting of the sp
. traders and herd who look for rises and jump onboard for the ride.
all of these occur even without notable news as it's based on sentiment, even if folk are suspicious of the facts, as presented.
but the road IS being worked on and the June/July end date is pretty much definite, so ore on the pad will be sold, almost immediately. then only need the diggers to come in (maybe even from the roadworks) and start digging out the next month's ore sales. a second delivery will prove the repeat sales are there. the drilling continues and the test results will come through. if they repeat the onsite estimates, there's another bump. and that bodes well for the JORC.
there may be a couple of hiccups along the way but, outside of some out'n'out bs, the only temp. halt to the price will be whenever the sp reaches whatever has been agreed with the funders as to when they get their 4.85 shares. depending on who they are (if they're, say, the previous premium price investors who sunk in cash at 25p then they must be looking for better than 10p to sell. but, even then, with the limited shares to be issued (they're fixed at 4.85) they'll either be soaked up by market interest in the rising price or they'll be held for the long term.
10p first target, 15p for 1-p warrant holders and then decide on news.
everyone should get to evens, whatever their average, as long as they dare to add more, sub 10p.