RE: info only9 Mar 2022 17:56
Hi Stevie. To be honest I was expecting more from the RNS yesterday so my feeling yesterday was underwhelmed. Mainly due to expecting more information etc. I actually on reflection think the RNS and webinar itself were ok but it's clear the timeline has shifted to 2nd quarter, once it's moved to 51/49 and the permits, applications, access etc granted and new company formation. There are positives that the strike is open and extremely largely untouched. They have 20km to strike along the fault, and peeling off in many directions. The sampling that has been conducted has proved successful as is the anticlinal folding hypothesis that's been proven and there is gold deeper. Have to remember that these holes were drilled to test this theory and for geological reasons. We have to also consider that all the noises being made is that majors will be moving to phase 2 and the boots on the ground seem to suggest that majors want to move this along. Only snag is they don't want to keep drilling Apta, they want to branch out to other areas but need to get all the legalities in place. My worry and issue near time is how Brad plugs the gap between now and getting to the next drilling (by all accounts I think will be major and substantial and with sampling etc being conducted over the last year, they are bound to throw up exciting and interesting results). I suspect there will be director buys and news on our new recruits (Brazil and Argentina) to plug this gap. Talk of new areas being identified at Anza and Brad has said they have been looking at other areas that fit his criterion of cheap entry, large land mass in proven areas (JV opportunities). Also institution buys have been mooted in the following months, I think they'll need guarantee this is moving to phase 2 before we'll get this but we'll see. Hard one to call at the moment. Sentiment is literally in the bin. I sold my entire holding on day of RNS. Was quite hard to do. I haven't traded any spike and decided to sell at a loss. My thought process was it was going lower on that update and I purely aimed to gather more shares leading into the second half by selling and buying at a lower price. Today I have bought 25000 shares. They went through as sales. Happy to buy more also. Fundamentally the drills were a success but just knew market want "Bonanza grades" and would react this way. So in summary for me personally still bullish on project but have near term worry over next few months until new company formed, legals sorted and we start drilling other areas. I think then we'll see true value being created.
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