AW on telegram26 Jul 2024 08:27
I hope AW doesn't mind me posting his Telegram message.
It was in response to statements like come September if no RNS the company is doomed.
"I agree it’s nonsense, I’m sat in 3 cash shells where directors have been buying, waiting for news, and their market caps are around 1m. They have worse jurisdictions, less prospective exploration licences and reserves, and are are not holding a multiple mining licences for different commodities , or in our enviable position of needing to raise only a moderately small amount of capex to be a producer.
To me it sounds like people think the board are reading the website and even care whether they sell or buy, and posters threats of saying they give them until September, will scare them. If I was Richard or board member and a shareholder was threatening to dump a 100m shares in September if no news, I’d be using that knowledge to my advantage, with the aim to pick up more of the company at their expense.
Also it’s amateurish to tell the market you are going to sell, and a good trader will try and not move the price. I suspect those doing so are either sold out and trying to scare others, or are so far under water they want to crystallise a loss, at the worst possible time, buy high sell low. Then the good news will come in and they will feeling rather foolish."