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I'm just hoping that when the claim RNS comes mm's are happy to let it fly, considering the nonsense they are playing with the price this morning on minimal sells. 3p drop on maybe 500k shares sold but when we get a day with 5m buys 1p move up, so frustrating!
What does everyone think Rajasthan Court website down a coincidence or for a reason relating to us and them not being able to show what has transpired? Not aware of another time it has been down on a day we have had a court day.
Sebo, I believe there are couple of reasons for this. I'll try to explain.
Firstly in March there was a placing for 23million shares at 4.25p that means that anyone who took part in this will have made circa 120% already and likely taking profits. The second part of this is that for every 2 shares you got from the placing, you were also given an option that you could exchange for a share at 6.68p. This is a very nice way of placating all the people that just bought in on your placing as they can take some nice profits but then keep some shares.
For example if in the placing you got 100,000 shares at 4.25p for £4250 you have just sold for £9000 at 9p and at the same time you exercised your option at 6.68p so you just got 50,000 shares worth £3340. So essentially you just doubled your money and some but still have a holding worth not off what you originally paid. No brainer, zero risk, you are basically sitting on a free ride of a nice size stake with double your money in your pocket.
Hope that helps.
The third thing is with options being taken up you are adding another 11million shares to the total number of shares in circulation which dilutes things a tad. So with all of this happening it stifles the rise a bit but once this whole process has been worked through, should be pretty plain sailing.
If it wasn't for who ever is selling with the big trades afterhours coming through, we would have probs doubled from here by now. Every buy is being eaten up by these big sells. If the seller stops I think we begin to move steadily up but until they do we will struggle to push forward.
While I see the merits of technical analysis let's move on to something more likely to effect the share price... When do we believe the RNS will come with the claim details? Mark has said we are in an advanced situation with LCM. I see this as the next major catalyst for the share price to move, outside of a deal being made.
Edhellas in past RNS's they have given a Friday deadline and the RNS came the next working day as you would have until the end of the working day they gave as the deadline. This time the deadline was today/Monday so either after hours RNS or tomorrow I reckon. I want this done as soon as the next person though and funding signed sealed ASAP is where I am at!
Hi James,
I think you are right in what you are saying, I read it the same. I suppose that they have to do further tests to work out the optimum procedure for the sorting process so that recoveries become higher.
My assumption is that:
Before ore-sorting 1000Kg of rock was for example $100 to process but you only got 0.15% Cu from it - 1.5Kg Cu
After ore-sorting you process only 360Kg of rock at $36 but you get 0.35% Cu from it - 1.26Kg Cu
So therefore the amount of Cu you get is actually quite similar but at nearly a third of the cost, so while yes you do throw away some good bits as part of the ore-sorting the Opex costs are so far improved it makes it worth the while.
I could be way off the mark but I think that is why it does work in the overall scheme of things.
Cheers
Josh
Lawrence, agreed, I was thinking somewhere along the lines of GGP at current MCAP as a good target. My only reservation is the market is fairly subdued generally at the moment so hard to tell how strong the reaction will be. If it was booming like 2 years ago you would think surpassing GGP current MCAP would be very doable.
Indeed I do hope we find out sooner rather than later, been here for a while.