Member Info for Dibs61

15-Nov-21 11:27:45 5.99 1,669,273 99.99k O

I’d love to know who was responsible for this? We should start seeing more and more of these kind of trades being filled going forward. If this wasn’t an institution it was certainly a HNWI.

Oh dear Some rather tardy comments here. All a bit unnecessary. If it attracts some new investors then all good.

I’ve taken an initial position here (having been invested some while back). 7.05p seems reasonable price to me. Something like a 12 month low in the SP where slow but steady exploration progress has been made. Tenement extensions and approvals being obtained and completed by year end. Geochemical sampling results due soon at RS. Next year we will see the drill bit spinning and by then I expect interest to be renewed here given the exciting activity occurring in this region - Paterson. So I’m getting myself nicely positioned for the journey. It’s taken a lot longer than many hoped and it is this that has caused the drop in SP and nothing more.

Cash position is strong at £3.74m so fully funded for forthcoming drilling program. No risk of placing then for the foreseeable. EV stands at around £8.5m which is not a lot given the prospective acreage they now own. As RP says they are right in the thick of it. I expect interest to return - though how quickly will depend on news flow to a degree. Will probably add further especially on any further weakness in SP.

Re Peel I would guess this means they’ve either got some stock to shift or an order to fill - or both. MM’s make all their money on the spread. One things for sure, their book is not as balanced as the others!

O&W yes I reckon you’re correct

A little surprised this hasn’t responded a bit more positively to the excellent newspaper coverage this morning. Also that we haven’t seen a pre-FDA rally either. That said it can be tracked back to the ridiculous over reaction by the market to the irrelevant announcement from Polarean - oh the fda reject a completely different product using a completely different process so let’s sell. Unbelievable.

This is the ‘moderated’ language and message as advised by their NOMAD in yesterday’s RNS quote:

‘BRDD-21-025 may indicate the potential for a cluster of mineralised porphyry intrusions at Racecourse, as found at Newcrest's giant Cadia-Ridgeway mine elsewhere on the Lachlan Fold Belt.’

The above is quite a statement don’t you think, even within the bounds of what is deemed acceptable by NOMADS.

Colin had no such constraints in his Zak interview yesterday afternoon. No NOMAD leaning over his shoulder telling him what he can and can’t say. He was in NO doubt. They have discovered another porphyry- probably as large or larger than the existing open pit area. Actually forget that, they’ve found a CLUSTER of porphyria similar to Cadia Ridgeway.

Just take a moment to take that in.

One other thing, Colin I thought was very clear; a 2mt Cu contained deal with AA is off the table. It’s no longer the target. It’s in the rear window disappearing fast. It’s a new ball game. A new valuation - one that will only grow and grow and, to me, he sounded absolutely sure, absolutely determined they (AA) or any other major, won’t be picking this up on the cheap.

One other thing, slightly off topic of this thread title, if this base valuation of 5p is indeed correct, then anyone buying at this level is effectively de risked now. You are buying a stock at very minimum asset value and we all know in any case they have other assets of value in Africa.

Some good posts this morning.

Iceberg - I totally agree re your comments on AIM chairmen/CEOS’s. Their statements can often run somewhere on a spectrum between let’s say slightly over enthusiastic to downright bulls*it. NOT accusing Colin of the latter. I think he is an inherently positive and enthusiastic personality. And I think Colin tends to trust and believe what people (both who work for him and who he deals with) tell him too. So we need to be careful not to always be shooting the messenger. When I say this I will give a couple of examples. One could be the assay lab who gives him estimated delivery dates for results and then doesn’t deliver. Another could be people he is talking to in Africa regarding their assets out there.

Cyberiachas also makes a very salient point about the narrative that is put out there for retail investors. When nothing seems to be happening or there are doubts in the market that’s where an AIM CEO has to try and sell his company to keep investors invested! CEO’s are basically glorified salesmen who are there to sell their company to the market. That’s their job. So when cyber says aren’t we all glad Colin managed to keep the lights on when things weren’t so good, and maybe achieved that by some glossed up narrative at times then he’s right, we should be glad!

It’s also clear that Mr Market is NOT just going to take Colins hyperbole and buy it. Solid evidence is required. Colin is very human, he wears his heart on his sleeve and is NOT imo in any way deceitful. But he does get carried away. Then he reigns himself back. Rinse and repeat. I believe his excitement is genuine. It is infectious but unfortunately the market is not yet infected. It will though. We came close yesterday to a tipping point and one if the forthcoming RNS’s will see us finally cross that tipping point.

Hawk - it seems the delay is largely due to Covid and the constraints that has put on the department within the FDA which deals with devices etc. The workload has been much greater combined with staff being absent etc. Don’t get me wrong I’m frustrated by how long it’s taking but it’s not late-late. The official company line is that a response is ‘anticipated’ in H2 2021. It’s just the 9th November.

This guy knows what he’s talking about. 282k followers on Twitter

https://twitter.com/ashishkjha/status/1456598629599354886?s=21

Happy Birthday Colin!

The ‘good’ thing is that the lower this drops the more buyers are going to be attracted in at bargain basement rates. It should accelerate and complete the process quicker and we’ll get some balance back in the market. That’s the theory anyway. We don’t want this to drag on with a sequence of more positive results expected.

Nope. No more small time cheap retail bucket shop brokers here! Angle have hit the big time. And with nearly £40m in cash - very well funded *underline*

Selling on the back of two largely very positive announcements seems difficult to fathom. So there’s something else going on here. Having been initially a bit sceptical of its impact I’m now thinking it must be PO Warrant selling that is behind this drag on the SP. There’s no other obvious explanation. So Some bigger buyers may sit on the sidelines until this looks like it’s run it’s course. For some investors 5p+ for a 1.25p investment is clearly worth bagging the profit now. We’re going to have to wait a bit longer for ours but at least those shares should now be in stronger hands.

Another excellent RNS. Laughable reaction as usual by the market. Hole 22 looks especially promising and having been focusing a lot on higher mineralisation at shallower depths Colin returns to the definite suggestion of better mineralisation at depth.

Hole 25 - in progress - has MASSIVE implications if they hit mineralisation.

Aqua - occasionally yes but this is not a change of advisor but the appointment of joint advisors.

As for funding, well if you’d bothered to look back just a few RNS’s you’ll see they are flush with cash. Quote:

‘Cash and cash equivalents and short-term deposits combined balance at 30 June 2021 of £21.0 million (31 December 2020: £28.6 million)’

Plus they raised a further net £18.9 in late June so total cash of £40m as of end June 2021. Rough burn rate of £7m per six months - and without taking into consideration potential revenue growth in 2022 - takes them easily through to 2023.

Would somebody kindly post a link to the most up to date drill location map that includes holes 22 and 23. I can’t find it! Thanks

A nice upbeat Zak interview today perhaps? In Phase 1 the market seemed to like these events more than the RNS and Colin can be more expansive.

I mean the guy who launches a vicious attack on the company - without ANY reasoning and then expects not to be attacked. You couldn’t make it up.

hicory - seriously, seek help.

Montyfino - no hole 13 def not testing the SE anomaly as drilling from pad to NE. It is located in the southern section of existing JORC resource

HTH