Few big buys21 Aug 2023 18:46
Today, wonder if those shorting and those sold, maybe realise their mistake and slowly trying to cover their tracks.
Nothing has changed here regardless!
Drill in less than 4 week, geology hasnt changed, the size of the prize hasn’t changed and the downside is limited with regards to our ability to drill again, owning the rig means we have optionality.
Reality is, the company could do this:
1. If unsuccessful, they have leads and prospects to follow up but realistically it would be tight to drill before November as they will need a drilling pad assembled and rig crew- UNLESS - they have already done this!!!! In that case, they will raise money immediately after this drill and crack on and if they have planned this and not advised the market, well it’s good contingency to crack on straight away!
They haven’t told us this, So on the basis that they haven’t, they could rent the rig out until Q2 say for two drills and earn in excess of $5m which would pay for the following on drills.
Or on a success case, the price will be way over 30p, they can raise £20m-30m and be funded until production / takeover . This money will pay for appraisal drills and maybe future drilling
This is the biggest drill on sim in 2023 and there is no chat by the ‘big’ Twitter accounts or really on here- it’s the same posters (me included) which tells me that it’s still off radar!
I think traders want the spud date and the others got spooked last week
So much to play for here, irregardless of what has been said, the upside is immense and the downside is simply waiting as it’s a matter of time here given the drilling issues in 2021 still showed HE, the recent independent surveys established a bigger potential resource and we have more data!
Madness the price is here but boy what an opp.
Focus on the entry and exit, everything else is all noise
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