RE: Commencement of South African Drilling Programme15 Dec 2023 10:22
Excellent summary rose , its very compelling at this price. It may, I stress may, not be a dead letter though.
In addition to being a cracking entry price, there maybe a short term market catalyst - the 4.5m sells that dropped us to here. If they were pure sells, there's no catalyst but if they were forward sold and delivery was to be by warrant exercised shares issued, then its fun. We know the warrants expired so either way Peterhouse fooked up and lost an opportunity profit of 400k - no Christmas party this year. Comes down to coincidence - 4.5m sells day before expiry of 4.5m warrants.
Here's the rub, if warrant related they will 100% have been sold T20 - to cover the time of sale to the issuance of shares - last day is Dec 22..
Could be a coincidence but this in itself makes the price doubly attractive and someone in Peterhouse is worried.
No sympathy - v poor managing of the business with at best losing out on £400k and at worse...........lets see. Exciting next week either way!!