Bit of a an overkill1 Jul 2024 09:39
results not great, and need a lot of work.
i made a few buys for the following reasons:
1. investments aren't at £249k - lindian is up 50% this morning. mantengu is up around 80% since the value was recorded. i do believe it was bad timing.
2. market simply doesn't believe in the silver project, but looking at the grades, and the pathway to building revenue, - it looks like a no-brainer to me. plenty of proving up to do, but nothing tells me it's a **** project.
3. market is not liking the waiting on mahenge. many have been saying for years that we're waiting on bkt, and whilst others said it's not the case, we then saw an rns confirming as much. we're still waiting on bkt.
there's still plenty that needs to be changed:
1. the £150,000 in outstanding subscription money needs to be placed.
2. we need to see bkt progress.
3. more tangible progress on the silver front to shut down the naysayers
4. half-year results need to show an improvement with the investments.
aside from that, i can understand the emotions exhibited by shareholders, but i can understand how the naysayers are still holding, and continue to bash as they smash their own investments down.
markets work in cycles, and we're pretty much at the deep end of a bear market/start of a bull market. it's usually where prices can be most depressed. i'm not going to let anyone that hasn't invested through cycles tell me otherwise, which is why i continue to add.
are there risks? of course. more so than any other junior? of course not.
we have 2 projects, one progressing, the other waiting to progress. graphite hasn't had the bull run we've all anticipated, and that's something we can track across all graphite shares. we still need that to happen, and the silver project is the opportunity to minimise equity dilution for mahenge. people are just tired of waiting, but that's what you do with junior miners.
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