RE: Keep an eye out for late reported6 May 2018 11:36
Morning :)
Kiwi seems to think there's a hidden buy at 10:37 on Friday that hasn't shown itself and IIRC, that would be the first "delayed" trade we've seen here all year, maybe much longer than that. Given that it looks to have been followed immediately by a c500k "sell", I'd guess that the buy is going to be of a similar size. Obviously small beer in the scheme of things as we've seen a decent bunch of timely 1m/�20k B&I/buys in the last few weeks too but it's notable for not being declared never the less.
Who knows what the sudden appearance of delayed trades may portend but this has obviously been steered into a VERY tight trap now with us barely above cash + liquid assets and, to my eye at least, the first makings of a breakout north of 2.10p and certainly above 2.5p.
I agree, you've gotta be thinking that any kind of decent +ve news here could send her flying out of the trap - who knows on timescales as ever but if my read of that trap is in anyway accurate then it looks like days/weeks rather than months but let's see what turns up.
There's wider/additional T3 Dome drilling to come - presumably from next week - 34 assay results outstanding, wider AEM results anytime, what could be a significant (in terms of diminishing risk profile if not outright size) resource upgrade for the initial T3 pit in around four weeks time plus whatever else may rock up in the coming period.
I'm sure the copper M&A activity elsewhere in recent weeks/months isn't lost on anyone looking at this. There's quite clearly a significant amount of early mover money about for emerging copper plays. Rick Rule was earlier than most this time last year when he ploughed c�4.5m into MTR at 3p but that's his MO, he's far more concerned with being right than being "too early" and rightly so.
Some/all of that may well get us out of the trap sooner rather than later while we're awaiting the new/wider drill results in the months ahead. We've got the T20 Dome campaign kicking off in just two months time too of course and I shouldn't need to spell out to anyone what may happen to the SP here if they uncover decent copper shows there.
A handful of good assays don't make another confirmed resource anymore than a handful of duff assays say that a piece of land is barren of course but that won't stop the market from immediately pricing in the possible upside, as they did two years ago from 0.7p to 6.4p on the initial T3 find, if the T20 Dome area starts showing decent copper.
From my chart perspective and in a scenario of ongoing good news here, I'd suggest we all keep that initial +5.7p lift in mind with respect to our current c2p floor ...
BTW, I forgot to mention my laughter the other day when watching MM's UKIS presentation where right at the top he immediately skipped past the usual disclaimer stating "that's irrelevant because we don't need any money from you".
What a great position to be