Member Info for Daisan

Chartist2, The conspiracy talk came from you. I suggest that you read back a few posts then you will be able to find it!

I tend to agree with regards technical analysts. The only ones I have come across that had money were the ones that ran services that they sold to the public. But I say again that I have never come across a TA who doesn't appreciate that the price can move in the way that the price has moved here. Look at Fibonacci retraces - they can retrace the whole of the move so this is far from abnormal and certainly not in the realms of conspiracy.

I confess that I am slightly confused Chartist2. Any TA would recognise this as normal price action so I don't really understand why you would think that this represents some form of conspiracy.

Laxeymouth, No problem. That sounds more like the figure I had in mind although I confess the exact amount eludes me. The communication is not particularly brilliant here and, as such, this is far from the spotlight. There is no doubt that they have had issues getting this underground operation off the ground and the affect on the share price is only too obvious. New lows being hit currently as the market awaits the promised funding news (indicated as being this quarter).

Tomcorvid, Not necessarily. It depends on your timeframe of course but a material supply/demand imbalance can create rapid price movements. Look at Vanadium as an example. Chinese environmental shutdowns caused this to spike up 100% earlier this year and the supply/demand balance is looking increasingly problematic in the future. Now, Vanadium is not a major metal like Copper but there are some parallels if the rumoured strike action in Chile comes to fruition whilst at the same time the rise of EVs is creating increased demand for Copper and the quality of Copper finds is steadily decreasing. This is unlikely to come overnight or as rapidly as the rise of Vanadium owing to the considerably larger Copper market but the pressure on prices is likely to continue.

Fantastic news to raise this financing on favourable terms. This team is really capable of getting things moving and, unlike with the previous regime, you actually feel that you are going to end up with a gold mine!

I think he is just being contentious for the sake of contentiousness. If you look at his history you will see that he posted on the OPTI board that he was glad and excited about being in OVG.

Very bullish turnaround today which resulted in a hammer candlestick I believe. That needs to be followed up with another positive day to confirm a bullish run. Let's hope for a RNS on Monday with a positive update just to give it a nudge. Perhaps SH can do a little ramping as well! :-)

I confess that I didn't notice the head and shoulders pattern on the chart. Not that I would have done anything about it as quite often the most damage has already been done once the pattern is complete!

It looks like people have got bored of waiting. It has been two and a half weeks since the last update after all! It may be that people will interpret the delay as the Beutong licence being rejected. I sincerely doubt that this is the case but as I have pointed out for some time, this is a government body we are dealing with and judging the timescales is almost impossible. To be honest, it would have been better if it had not been suggested that it would be issued some time in November but there is nothing to be done about that now.

Chartist2, Of course SH was ramping in his interviews with Proactive. Proactive is a mouthpiece for ramping by companies! But who better to ramp a company's prospects than the chief geologist? I would rather him than somebody coming on a bulletin board going 'boom' and 'I wouldn't want to be out of this over the weekend'! Nice quote at the end by the way. And true. In the last gold upturn in 2009-11 gold miners remained at overbought levels for months. I suspect anything related to cryptocurrencies is currently experiencing the same. All depends on the appetite by investors and how compelling the story is. I don't think that general miners are currently in that situation but they may well get there who knows? Perhaps when cryptos crash?

The share price is still in a consolidation phase after the rise from 5p to 11.5p. The current price is a retrace of about half of that upswing which is far from abnormal for an AIM share. Clearly a number of people have taken the opportunity to take profits as the news flow has dried up somewhat. Given the fact that we have had 8 operational updates in October/November, it is hardly surprising that things have paused for breath when we have had no updates in the first two weeks of December. I am still expecting some updates before Christmas, namely the most recent results at BKZ testing whether the copper mineralisation is contiguous between BKM and BKZ (this is a significant one), the limited drilling carried out at BKW before they shifted the rigs (I suspect that this will not be earth shattering) and the metallurgy results which are certainly now due (this will also be significant although I do not expect the market to particularly appreciate it as the implications are long term and incremental). I do not include the Beutong news that everyone has been waiting as this is out of our hands and will come when it comes (I have no doubt that it will come at some point). There is enough there to give the share price some positive momentum, especially considering that there should be fairly significant technical support at this point. There is at least a reasonable chance that there will be upward pressure on the share price in the run up to Christmas.

Chartist2, If you think that the ramping on this board is silly, you should look at some of the others!

Costello, Judging by your posting history you could make Private Fraser appear like a beacon of positivity.

What is it with this spell checker? Andrew = a few!

Wells it was relentlessly down for years so it deserves Andrew relentlessly up days. Good to see that this has turned positive although it will require news to come through if it is to maintain it. If they just get cash back from Taymura then that will not be the news that ultimately moves this. Cash is not an issue for Ovoca -vision and action is. If they pick up the O&G assets now that is an entirely different matter. Lennie, Let us know when you sell as you are the benchmark for OVG trades!

Where did you get your figure of $48m laxeymouth? I can't find a consolidated requirement anywhere and I suspect that they can fund a decent amount of the capex from operational activities. They clearly have not been able to find the capital yet to fund the increase in production to 40-45k tonnes per month and this is considerably behind plan. 100k oz will require increasing processing to 1m+ tonnes a year so close to 100k tonnes a month which is a considerable increase from here. I am not convinced that they will meet these time scales, particularly if they continue to struggle with financing. On the flip side, they are clearly cash stable even at these low levels of production which suggests very considerable upside should they manage to achieve the financing and subsequent increase in ore mining/processing. At 100k oz they could start to deliver on the promise that a 5m oz resource deserves. Such a resource should command a higher market cap. anyway but financing (assuming the terms are not draconian) should reassure the market.

A sight I would not wish to inflict on anyone!

That's not the next few years, that's the next few weeks! And about as likely as me being voted PM by Christmas. JR is amusing but his primary aim is self promotion I believe.

Not always up to speed on everything for sure but the companies where I have been a director there has always been at least an email group which was reasonably efficient at communicating information in a timely fashion. Remember that a NED has a legal responsibility so it is in their best interests to remain informed.