Member Info for Dav3J

For perspective (and this is my own estimation, you're welcome to come to your own) but when this was 0.5p I said that fair value on announcement of a JV for D2 would be about 2p. We flew through that and spiked, leading to a panicked sell off which made us massively oversold (on technicals and my own assessment).

I have long asserted that despite the PM bull market, our Iron ore prospects really are (to use BBG/Zak Mir's phrase) the jewel in the crown.

So with a JV in place and very positive assay results on our first iron ore project, where should we be? In my humble opinion, a very, very long way north of 1.7p.

Superb news. Plenty of targets with a %Fe above 60, which if I'm not mistaken qualifies them for Direct Ore Shipment rather than on site processing. This will significantly minimise the costs for establishing a mine and processing facilities - dig it up and dump it on a truck. Money in the bank.

I'm probably jinxing it now, but I think there were lots of positives in the SP performance yesterday, specifically that it tested 1.5 on a couple of occasions but bounced back up, suggesting we have some resistance here. Having said that I can't see much happening today and I think we're likely to stay flat or lose another couple of percent by day end. Bring on the assay results.

Considering how my other shares are doing today I'd say UFO is holding up remarkably well. The price is bouncing around all over the place so it's hard to tell what Mr MM is up to, but I suspect we're just seeing the effects of low liquidity and less interest in the share compared to recent weeks. I think we'll finish largely flat today, dependent of course on if there is any intra day news.

No expert on that share, but I very much doubt it will. Hence the need for cross ramping it over here while holders scramble to bank their profit and run.

I agree. In retrospect its clear to see that the rise to 3p was driven by some over the top expectations of what our first JV would look like. But I don't see any evidence that the assay results are priced in, simply because we don't know what that will be so it's pure speculation. Here's hoping for some good grades when the results come in!

I've just grabbed the 250k back that I sold a week or so ago for 1.72p. I think we'll see upside from here.

Bid now rising to 1.64 for the same amount, hopefully that's the bottom for today and we climb from here. Odd UT though.

They will still take 1.63 for 1m shares so I'm not concerned. Spread is large as volume is low. I don't think the MMs know which way this is going to go.

Good to see you back Otsenpai.

My own view is that the SP was due a bit of consolidation but that 1.5 was way oversold, especially with the news that has dropped recently. We're churning through a few shares now and like you say once the warrants clear we should be looking good. I will be adding where I can at this level.

Fully onboard with this email and the sentiment behind it. Just frustrating that it's taken a whole 2 years of BoD intransigence to get to the stage where PIs are forced into such action.

No doubt some poor sap had a stop loss at 1.75 which they decided to take a dip for.

Churning a few shares in the 1.9p range. Hopefully be clear of these soon and up into 2p and beyond today.

Suddenly some of those outlandish SP predictions from the other week don't seem so ridiculous!

1.795 to buy, 1.7225 to sell. Its moving up nicely now.

Bid is very slowly rising. Might see a jump up to 1.80p by CoP if it keeps up like this?

Interesting... I've been using 1m dummy sells as my gauge for liquidity here, during the big rise they obviously would bite my hand off for them, but the last day or so. If the MMs are willing to buy again they must be expecting a rise or are short on shares at this price.

Rees, hope you're feeling a bit less despondent today. A day away from relentlessly checking the SP could do us all a world of good after days like yesterday.

I got snippy with you yesterday when you were first talking about your losses from buying in on the spike, so for that I hope you'll accept my apology. As I have said earlier I was seeing an even greater loss (admittedly of profit not actual cash) and I was feeling mighty annoyed. The problem is that any negative sentiment is jumped on by derampers and drives down the price, even if your anguish is genuine at seeing such a drop. AIM is the Wild West of trading, I suspect this won't be the last time you are subject to the games that get played. Hopefully next time you are more wary of it and know how to handle yourself when it does.
Dave

Or the realisation by more canny investors that this was massively, massively oversold.

I'm not convinced there are any enormous shorts open, simply because at the low SP, to make substantial profit a very large position would have to be taken which would likely go over the threshold for reporting.

Yesterday was a massive sell off by some holders from the sub-0.5p days, done incredibly disingenuously and while pulling the wool over new investors' eyes. You can probably work out who they are by their conspicuous absence from the boards today and yesterday.

Don't get me wrong, I was very tempted to join them, and I'll admit I took a very small slice (1/8th of my holding from a 0.18 average) to take a position elsewhere. Its been absolutely gutting the last few days seeing about £30k of potential profit evaporate. However, I am still here. Is 3p going to be reached again? You bet it is. Fingers crossed this time it is done slowly, and accompanied by less rampy ramp and more substantial news flow to support. The figures being banded about weren't necessarily wrong, I just think the timescales were overly ambitious.