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Cekim - if you have doubts, I’d advise for your own well-being you sell up rather than moaning on an Internet BB.
Unfortunately, due to the nature of AIM shares, the saying ‘buy on rumour, sell on news’ seems to playing out here in the short term. Traders come and go, but fundamentally, this company is proving up a valuable resource which will be worth multiples of the current SP in the near future.
Hunniford - unfortunately, it’s that sort of rhetoric which will cause a mass sell off if there’s no RNS on the 1st July.
As Jack points out, delays are commonplace at the minute, especially so considering we’re in a global pandemic!
Grogers - I feel the same. My biggest mistake was not cashing out when it hit 3p in the run-up to the name change meeting when I could have got out with a healthy profit.
This is nothing more than a lifestyle company for FG IMHO
Mytwocents- as posted on 16th June, Lex had $2.9M cash in the bank according to the most recent financials, so they should have more than enough to pay for Phase 2 without needing to carry out a fundraise IMO.
I added here yesterday and will wait until the imminent updates to take a view of what I’ll do with recent tranches. The significant portion of my ORR stock (which i’ve held since last March) is a long term hold.
Meanwhile, I’ve spread the risk on a couple of other gold plays - LEX and ARK. The latter has a very low MCap and released an interesting RNS yesterday if people want to research it.
BigM - yes, I’d agree with that analysis. I’d have preferred it if they had elaborated a bit on Phase 2 yesterday (I.e. timescales, extents, etc), especially as the results of Phase 1 are so encouraging.
Lex had $2.9M cash in the bank according to the most recent financials, so they should have more than enough to pay for Phase 2 without needing to carry out a fundraise IMO.
GLA
Just goes to show how illiquid and tightly held these shares are - £1700 worth of sells and the MMs decide to knock 6% off the value of a £13M market cap company.
Bonkers
Another positive RNS. It would have been good to hear about the plans for Phase 2, but that will come.
It’s been discussed here before, but Lex is not on many people’s radars at the minute.
Use this as an opportunity to accumulate before the herd arrives!