RE: This will go places31 Aug 2020 08:19
I actually think LR wanted to get the consolidation out of the way but was surprised the share fell 40%, he then was going to complete a placing or even find a partner after hopefully good mets results while the share price had risen. However, to his surprise the share price rose first because it had fallen too much post consolidation and this enticed new investors, speculation then pushed it up even further which let LR to be able to complete a placing earlier and raise more money. If we had not had the 4 bagger rise we would have not had such good funding terms .
We have now had the placement and the mets results were amazing but investors have not had time to realise where we are at.
1. A quality project with no adverse Mets results.
2. The commodities are in demand and this might be the start of a cycle for base metals.
3. We will not have another placing for well over 12 months
4. Consolidation is out of the way and will not be done again.
5. The charts are looking good.
6. New investors spent £1.5 million to get in which is £100,000 shy of the post consolidation value of the company for a 30% share.
7. The price of the placement of 12.75p should be the bottom for the SP and we should keep bouncing of it unless we get poor news.
For me LTH's and short term traders who got in around 8p + sold on Friday (they don't have the brain power to buy in at 5p, they leave that to other people and get in when a share has risen 60%). I do believe we are in a consolidation period and the second wave of the rise with start shortly.