Member Info for Dibs61

Now looking like order filling to me

Volume has now dropped away and the price with it..

Yes they’ve disappeared again as quickly as they came! Quiet today but meanwhile the drill bit keeps spinning. One of the notable aspects of Phase 1 was the absence of any significant gold as things turned out. Copper + Gold in phase 2 should help to stimulate greater interest.

Has risen markedly since yesterday afternoon

Not huge amounts but accumulating on delayed trades

Shelley71 - quote ‘ How difficult can it be for colin to get out a solid rns with solid sales news. ’

That’s easy to answer. Because there is no solid sales news! Nada.

https://www.**********.co.uk/articles/trader-s-cafe-with-zak-mir-xtract-resources-bushrange-conceptual-open-pit-study-webinar-7d8cb15

Nearly 7% down on pitifully low volume, really? As iceberg says these are exaggerated movements by MM’s and should not be taken to indicate anything negative.

But boy is it frustrating ….. just when we started to look like making a bit of progress

Disappointing price action today but two factors : low volume and general market semtiment poor today.

Also signs of the summer shutdown creeping in.

We should get a decent news flow to keep things ticking over here.

Dozens and dozens of 155 ‘sell’ trades going through. Surely must be filling an order or the price would move. Bizarre.

I am sure this will help the completion of the JV along…..

https://avondhupress.ie/cork-dublin-airports-welcome-back-passengers-as-international-travel-restrictions-lift/

Mondays RNS said drilling to commence ‘around’ the 15th. Price quite firm this morning and tends to be a bit leaky prior to news. Do we think they will announce/confirm officially when it’s kicked off?

Feeling quite bullish about the next few months.

I’ve noticed for a long time now how the SP is held in a negative position even when it’s not! Today is a good example. The mid price is actually between 148/148.5 yet the price is 145 - a SINGLE SETS trade achieving it and keeping it that way.

Most days it seems the SP is slightly down. Psychologically, for some investors this becomes grating and frustrating. The volume is very low and there is no logical reason why the SP could not be modestly up as there is little selling but no it seems important for the SP to be seen to be down.

Death - good points in fairness and I have to admit I was unaware it was refractory extraction method. That said it doesn’t necessarily make it unviable or uneconomic.

The fact that Demir are interested means there must be a degree of possibility that it’s a goer. They must have undertaken sufficient research of the project to commit thus far? When I say ‘commit’ I mean funds for DD.

A question:

In yesterday’s RNS it stated the following:

“A total of approximately 8,000m of drilling is planned in the first phase of 13 holes using two drill rigs, focussing primarily on further definition of the potentially open-pittable, higher-grade copper-gold zone in the central part of the resource area”

I am correct in saying that the entire Phase 2 programme consists of TWENTY thousand metres of drilling and this is just the first Phase yes?

I’m thinking that the SP ‘should’ retrace to at least the placing price of 5.6p from here given the renewed interest this should get now. Anyone agree?

I am pleased that CB split the Raceourse and Footrot news into two separate distinct announcements. They might have been incorporated into one larger update but I’m glad they didn’t as it draws more attention to Footrot (can they rename it?!)

I’m also pleased that CB has reverted to 7am announcements as these get more attention from the market.

Pleased that they have kept to their time schedule for the drilling programme. That’s a big plus and happy that Footrot will be included.

Next six months should be interesting! !

Entirely as expected - results very poor. As I’ve repeatedly stated (and been abused for it) this company is fundamentally overvalued. Revenue is actually 11% down on previous year and with no real prospect of significant sales of any of their products the market valuation is crazy.

Going all the way back to somewhere between 10 to 20p imho. Current valuation NOT justified with too many false promises and unfilled expectations to boot.

Earl - that’s my thinking too. Understandable cynicism but it’s been made very clear that Demir want to drill as part of their DD. In other words they want to see for themselves what is there. That is what is holding up the all important signature on the JV. If you think the drilling will be a tick fo4 them then this price is a giveaway. If, other on the other hand you think it’s all a con well you can give it a miss.

Yes a super record for communication. Absolutely no question. However, I continue to be concerned he’s trying to juggle too many balls. So many projects but most are very early stage. I am beginning to wonder if it was a wise decision to invest here. I like PJ but I think he speculates and is perhaps hoping that by the law of averages one of the projects he’s picked up cheap will be a winner. Can I wait that long?

3cardbrag - absolutely correct and they cover their backs by adding this comment : ‘the Company raises finance for its activities in discrete tranches to finance its activities for limited periods only and further funding will be required from time to time to finance those activities’

That said, further fundraising does not bother me particularly. Look, it’s a given as the company themselves point out that cash raising is part and parcel of an exploration business. And pyo88 wanting to fixate on future placings is missing the point here. Future success here will be determined by Phase 2 drilling success producing further scaling up of the deposit and higher overall grades especially at the shallower depths. NOT whether or not there will be another placing.

And with the price down to 3.6 really a very very good opportunity to make money in the second half of the year. I have no spare funds currently and still hold my substantial stake but if I can rustle up any more cash I’ll be adding more.