I searched for other small explorers active in Oz and found that in Jan-Feb '23 ECR Minerals took 32 days from drills being in the ground to announcing assay results via RNS. So from finish of drill programme to RNS, perhaps 3 to 4 weeks would be the right sort of ballpark.
Meanwhile the SP is 40% off the recent highs and still slipping.
PS I am NOT keen on ECR
Thanks Panda - you beat me to the punch finding out whose warrants they were. The timing of this warrant news is not ideal.
Ultimately, the investment decision here distils to whether we believe that the rock chips, etc at Pitfield indicate something way bigger than is represented by EEE's current £10m mkt cap? Or not. Potential downside is 1.9p, upside potential is...
So it's not too surprising that the SP has fizzled a little after the recent excitement and the wait for Pitfield assays. Looking at the chart, now we are in/around a support zone. (2.08p needs to hold). I've taken this opportunity to add a final chunk. GLA
I have to say the price action is very encouraging. The drill crew bagging up the RC dust will have a decent clue if there's significant copper mineralisation and it would be hard for EEE to keep an air tight lid on such info. I'm actually very excited about prospects here.
Tom Winnifrith has commented on this in his Bearcast today. I won't divulge his paywalled content in detail as that's his livelihood but it's well worth a listen. I'll only say that he claims to have spoken to BMV about this trade and he seems to think that it is a subject of interest. Check out today's Bearcast and look out for TR-1s.
In 2017 I attended the similar 'UK Investor Show' in London. I've just looked back at the show programme at the (mostly AIM) exhibitors and presenters who were there. What a shower of trash. I'd say most of these stocks have since been catastrophic for investors and many have gone all the way to zero.
IMO attendance at these PI-oriented shows is a massive red flag. They target PI's because they know there are loads of gullible simpletons amongst us. Sorry.
I don't share your confidence in enforcement of the law on the main market. At least with AIM you have NOMADs to steer the BoD straight but with the main market you're relying on the FCA. In my opinion the FCA are asleep at the wheel.
Looking at the chart, 18/19p is an historical support zone for PXC so buys under 20p would seem to have a decent probability of being smart buys.
The high Cu grades and shallow intersections found in a friendly juristiction are hard for me to ignore at the current valuation. GLA
Looks like some bottom-feeding here in the low-200's. Some big buys went through earlier and I'd expect at least a technical bounce. Not a bad bet for a punt at this level IMHO.
SP drifting down on tiny volume. Drills turning at Pitfield I expect to be the next catalyst. I think they're using RC so there'll be no core photo opportunity. Hopefully the fireworks will go off with the assays.