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Maybe Shaun will finds dinos when he has drilled through the Titanium sheet- the ones that got splatted by the asteroid. Skeleton might be valuable...including the Titanosaurus of which we currently have only a model.
Then we can become EEEE- Exploration, Evaluation, Exploitation, and Excavation
While we fell going into the placing (rumours presumably) we have held steady since then- we've got another £3million in the bank and remain above our placing price. Bought about £8k worth today as she seems stable at about this level. If Bunn can use this new cash aggressively at Pitfield I think we could get superb momentum. Its hard for the market to properly value a highly prospective giant resource, and the herd movement might not be a rational reactions to the data that is dropped. This is the sort of share that might double in anticipation of news, or double several days after news is released.
This board today is exclusively de-ramping of the most blatant kind and I would suggest some sensible posters post some discussion to prevent it turning into a drain. They'll talk all of yesterday's rise away if you let them.
The takeaway is not 'oh no- they found a titanium giant but missed the (increasingly proven) copper giant'. It is that a company which has an MCAP of less than a Belgravia townhouse has uncovered a mineralised system of global importance. The idea that possession of a single giant (never mind multiple giants) was already in the £9million SP is absurd. It's now a lot more concrete and less theoretical than it was when all we had were air surveys and rock chip samples- that's the real bull case here.
I suspect that, in drilling the numbers magnetic anomalies identified, they could hit other metals as well. Which is why the drilling is always going to be exciting. The next round we will be looking for a.) copper, as before, this time a major strike; b.) titanium, to continue this story; c.) other rare and valuable metals.
I think there's every chance of another giant mineralised system of C. So the share is intrinsically difficult to value.
SP is also very silly now. We've been higher than 2.65 very recently prior to these results, so this is no spike, just a restoration of the previous position.
I think there's a window of opportunity to buy more this morning before the herd arrive. Its been a miserable existence so far in this share, but this deal is clearly transformational and I expect to see 30p this week at least.
Joey, I wonder whether you could set up a webinar for those of us who wish to transition from gamblers to investors? I purchased a share before a drill, then there was an RNS with the drill results- and it went down. Now I see I was doing it wrong all the time.
I think everything is fine in moderation. I don't post much, but when I do it's usually to highlight a negative point (not because I want to be negative but because those occur to me more naturally). However when negative poetss from the same poster add nothing and are too frequent (especially when they simply contain unsubstantiated forecasts of a price crash) then the most sensible thing for them is to sell. Joey thinks we ate going to a 2 year low, so better for him to sell now than provide a continued commentary on our declin4 while his investment is eviscerated. Also, a falling SP day after day and posting negatively day after day are not unconnected phenomena. Which is why filtering has its limits. I want to see posts I dislike precisely because they can effect a SP and I want to know about them.
Exactly. The key point isn't Malaysia. It's that new on the Kveikje monetisation will arrive in this quarter shortly. That could easily blow the SP out of the water. Not so good for me with my 60p average, but for great for new holders. I hope the SP stays where it is or goes lower to give me time to mobilise some more funds.
Given the company is set to announce something soon, I am surprised that the SP has continued to drop further from its very depressed level. When I saw that, I expect a recovery to the low 20s at least, in anticipation.
Seems to be quite a bit going on at present.
Obviously the crazy grades in one sample were an outlier so those expecting a huge rise were being a little optimistic, but they are still extremely good news and I expect this to move up in the next week.
Even though its a tiny company the sp action since pitfield has been quite steady. That's fine by me, we've still managed to double since then.
Not sure you're right to say only cash in the bank will lift a share with sentiment arrayed against it. Production (and hence cashflow) can also do that with and stimulate a fundamental re-rate simply because it is so easy then to project future earnings. If production stabilises at (say) 10,000 - 12,000 bopd after casca then comparisons across the industry will make this look extremely cheap even at £1.50.
The reason Coho didn't rerate on production fundamentals is because it only added 1,000 bopd and the market knew it could sit out for 4 months before anything would happen.
I don't think the market will be able to ignore Cascadura, regardless of sentiment, simply because of the bottom line. The SP reflects both the current cash and cash generation, and also anticipation of onwards drilling. With Coho coming online, the former improved slightly (but not much because Coho is small) but it also removed the main driver of anticipation, hence the perversity of a substantial fall after what was clearly unalloyed (albeit delayed) good news.
With Cascadura the cash generation is vastly greater than coho + legacy (I believe by a factor of 4-5) and the cash generation will also open onwards drilling of Royston and other prospects. So a double whammy in terms of moving the SP.
Ultimately it's a waiting game till Casa and I don't care whether the price is 65p or 80p until we start to move up. However those sitting on the sidelines waiting for a lower entry point do run the risk of Casca running ahead of schedule and news on that front will move the dial rapidly, so good luck to them on picking their entry point.
In the last few years, when this share has risen, it's generally been in the weeks after old news and in anticipation of new news. The rise after Pitfield to 1.25p was underwealming as it only restored the SP of the company to what it few weeks before it was walk down to 0.8 based on no news whatsoever. Now we are starting to see some uplift from the 1.25p base