Member Info for EnricoPallazzo

Stop teasing us, Paddy: when I zoom in, I can clearly see you and Magictrades walking in parallel (with an appropriate distance between the two of you). The lines are caused by your barrel of Guinness and Magictrades' barrel of XXXX. You're about to spell 'GOLD' in the sand.

Ah, you assume that the mates' intention was to hold on to the shares. I don't think it was. I think these mates were guys without warrant who also wanted to make a quick buck. Here's what you do: sell (short) a few million COBR shares at almost 3p ; arrange for a quick placing at 2.25p, with your shares hitting the market a week later (today); ask the BOD to publish a lukewarm RNS to drop the price; close the short at market price if <2.25p, otherwise use you placing shares to do so. Bob's your uncle.

Yes, we're likely to see a few more warrant conversion RNS's today and early next week.

That block listing RNS on Monday was very unusual, as if the BOD were saying 'we know these warrants will be executed soon'. In fact, it sounded to me as if they knew warrant holders were forward-selling at the time. Not sure it's entirely legal but the world of corporate finance is so dodgy that little will surprise me now.

As I said, this will recover faster than you think.
I remember selling GGP shares at a loss a few years ago when they dropped from 2p to 0.5p in a day. I should have piled more in at the time: they're now at 9p. I was too impatient and thought I'd chase another rainbow to recoup the losses. That rainbow - MYSQ - is no longer there.

The recovery has started here. The SP will close at ~2p methinks.

Thanks a lot for the images, Paddy!

In the light of the recent activity in the SE corner, I wonder whether the previously reported results from these two holes - HAD016 and HAD019 - should be interpreted as 'no intercept YET'. Perhaps the recent update of Callum's model indicates the second, deeper, lobe does extend in that direction after all?

All the best
E

Fortune favours the brave!

Nathdomb,

It is an extremely unpleasant situation, I know. I'm down on this one as well. Could have sold last week at 3.40p but didn't. Of course kicking myself for not having had the wisdom to do that and buy back later.

I believe this will recover faster than most people expect but it's unlikely to have a meteoric rise previously expected by those selling off as we speak.

All the best
E

Good morning everyone,

Surely, the warrant holder who exercised the 1.5m warrants did so to cover a short, as there was no point exercising them when the price was close to 2p. We'll probably see more warrants being exercised. I wouldn't be surprised if 20-40m warrants have already been forward-sold this week.

I won't try to guess the SP today and next week but it seems to me that there aren't many investors who bought below the current levels, so this should limit further sell-off.

Holding long and strong
E

Let the BOD do exactly the same mistakes as GGP's BOD and we'll end up with a massive gold deposit a few years down the line...

Rand's = RNS's (courtesy of my spell-checker)

EP's are like buses or Cobra Rand's: they come in large numbers. :-)

I'm not attached to my initials (this is not my real name, just a nod to the greatest ever rendition of the American anthem), so feel free to use yours.

E, without the P

tsbs1,

Not much cheaper: ~10%. The risk was that the market would react differently and they would have had to pay significantly more.

We need to wait for Stage 3 results to know more about the four expected IOCG targets they talked about earlier. There is no certainty that all of them will be good prospects for drilling. However, having an additional (unexpected) IOCG target is a great bonus today: let's not forget that the company is applying for a grant to cover 50% of drilling costs at IOCG targets, and there's no reason to exclude the new one from that.

Just finished listening to the interview. It was very positive and the guys are looking forward to the next stage. They're sticking with the schedule announced in early April.

The most significant piece of news for me is the definition of a new IOCG-style target, with a graceful name 'Grace'. (Sounds even better when pronounced with an Australian accent.) This is in addition to the four such targets to be looked at in the 'greenfield' bit (stage 3).

Sorry: I was referring to the previous presentation which had a schedule on page 19. You can find it alongside the latest one on the website.

The directors have stated in today's interview that they're sticking with the plan, so we expect Stage 3 in May-June (there are lots of historical samples to go through!) and drilling in the second half of this year.

Rookie,

I think the July-August period is more likely. They won't start drilling before completing Stage 3 analysis.

That's not all. Perhaps for today, yes. Look at the approximate schedule on slide 19 to see what's to come.

I think a lot of people expected fireworks and have now sold to chase another rainbow.

In terms of excitement, what other share gives you seven RNS's in a day?

I won't be surprised if MetalNRG notifies about crossing back above 3% tomorrow, as a result of their participation in last week's placing.

Was it pukka for Rolf Gerritsen to delay notification until after he left the company? Surely, he was a connected person whilst the selling was happening?

MetalNRG reducing stake to under 3% last month.