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Agreed but I think everyone is waiting for news on drilling.
The RNS issued in December 2023 said that drilling will take 2-3 months so the earliest I would be expecting news will be around mid-late February 2024 but it may not be until March 2024.
GLA
Two cents. Thanks.
I think it is fair to say that many investors/shareholders have been incredibly patient in the grand scheme of things but there is simply nothing happening or reported to be happening of late. Yes we have had some updates but all the SP has done is dwindle ever lower.
The market wants to see progress being made IMO and we are simply not being told . Surely the JV with Harmony must be in discussion or not? Is it the case that nothing has happened since all this Witwatersrand project was acquired? I believe not but we need updates from the company (good or bad) and not just given the silent treatment. All IMO.
MarkLong
The best people to answer your question in the fairest way would be the directors of the company. They run the company after all and have first hand knowledge.
Have you put the question to them as to why the share price has fallen much?
FWIW I do not know why and I guess that not a lot of other individuals do either.
If a share is ‘out of favour’ so to speak then chances are that some people will exit and if there is insufficient trades to ‘balance the books’ then the SP is likely to move (In either direction dependant on the pattern) or at least stay stagnant - it all depends on the MM’s. At least IMO anyway.
There has to be a market for everything and market forces determine prices - whatever the commodity. It is all part of supply and demand economics.
I agree.
This is very low (SP wise) considering the recent news flow and also when factoring into account the % stake Lex now have in the Witwatersrand prospects / areas.
As there has been no news recently, the SP is a very 'directionless'. it has dropped recently from 6p mid price to 5.65 now on little trades. I am hoping the SP will change for the better going into October and certainly November time as I would expect news flow on several accounts by then. This of course is only IMO.
Once there is direction and news (esp.on the Harmony JV) then the SP should hopefully start to react. Don't forget that the latest issue of shares were at 6p and the share price is sitting below this level currently. WH Ireland also have a target price of 15.3p in their latest note.
It will take a few years I feel to see the SP mature and really find its level but hopefully with catalysts (news flow) along the way we can see a sustained rise.Truth is who knows. The market will obviously decide.
The company is well run IMHO and has already got a JORC compliant resource (see RNS releases).