RE: I fear23 Jan 2021 13:57
Whole heartedly disagree with this bit "Sentiment and momentum has been shattered". There was an overly hyped expectation that Scally was going to be another Hav. It didn't happen on the first 3 drills, it may not happen from 7 but I just don't understand how people are writing this off from 7 holes?
Appreciate you see this differently if you were hoping for a hit at Scally, price rerate and out. Fair enough. But this is exploration and that's the nature of the beast.
I trust GH, given the integrity he has shown in running this business and it seems like this first set of drills has given them some key pointers of where to go next.
On the momentum piece, the price action was just ridiculous. HAV is worth multiple of the current SP, we know that for a fact, so to wipe 30% off the value of the company on Scally news (that would no way have been 30% of the valuation). PI's panicked and sold, causing that waterfall effect. I think momentum will only build from here. The II's that were hoovering up the shares from people panic selling didn't invest as 30p plus on the hope Scally hit. They were in on one thing - HAV.
It's flushed some of the nervous out and brought stickier money in....sentiment took a bit of a hit but next week should bring the focus back to the real deal!