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More like Buy Buy. Someone just bought 1.25M shares at 22.5p.
Thanks. Ongoing exploration and DFS over the next 24 months, 2023 start mine construction, initial production in 2025. Interesting.
During this time they will also be proving up the Egyasimanku Hill spodumene rich lithium deposit and the various gold projects.
So what's not to like here?
There are no such predictions or dates given in the RNS. Please explain. Are these your predictions?
Lenigas last tweeted about WSBN on June 24th. Was tweeting almost daily up to then but curiously nothing since. I wonder what price he jumped out on?
Feel completely shafted here but not for the first time on AIM. All penny shares are a risky gamble especially with some of the cowboys running the shows. To say on May 20th they 'anticipate drilling to commence shortly' followed by 'drilling later this year' 6 weeks later is shockingly poor.
In between the 2 statements the sp spiked, profits taken, job done.
Whilst Raku is deliberately de ramping and pessimistic it would be useful if Vince in the RNS and interviews had put some timescales on forthcoming events. Anyone knowledgeable enough to know when the DFS should be ready, surely quicker than 2-3 years? What about building the mine, going in to production and producing the lithium?
I don't envisage Tesla waiting 5 years for the lithium to put into it's batteries.
Most of those 50 days the sp was below the placing price of 20p so they wouldn't have sold at a loss.
No that was Assore but i get your point. However assuming Assore don't sell any then 45m is still a sizeable amount to shift. Maybe i'm wrong and it's just PI's taking profits but somehow i doubt it.
I've finally worked it out. They stop selling when the sp drops below 22p. They want their minimum 10% profit, a cool 1.2 million quid on 60m shares, so resume selling above 22p. Not so bad then.
Up 7.5% this morning, now down 2.8%. Stuck in this low 20's trading range for the foreseeable future until April's placing shares are cleared. Very frustrating. Will they keep selling down to 20p? Was that placing necessary, does Vince regret it now, why didn't he lock them in for a year like he did Piedmont?
The only downside are the 60m placing shares at 20p issued back in April. That's a lot of shares to potentially sell now the sp is back above 20p again. Without them the sp would be over 30p today and who knows where in a week or two.
OK Tony mate we get it loud and clear. Your 3rd ramp today for SAV on this board. Your 3rd post deletion maybe also?
I wonder if the RNS was subtly worded (later this year) to deliberately cause a sell off to let new (mates) investors in at a reduced price? Seen it on AIM before. Lots of buys come in, the sp recovers and hey ho a drilling started RNS arrives. Just a thought and i'm not usually a conspiracy theorist....honest!
I got it from this bb when peeps were discussing the telegram posts. Anyway thanks for your reply.
No doubt long term the sp will recover and possibly exceed it's record highs but most AIM investors have shorter time scales. 'Later this year' does suggest it's a few months away otherwise shortly or imminent would have been stated.
It's quite simple, was a dreadful RNS. Everyone expecting a 'drilling commencement' RNS and we get the dreaded 'drilling later this year' red card. They tried to hide it amongst the glitter of the prospects but nobody has been fooled.
The RNS on 20 May stated 'We anticipate being able to announce the commencement of drilling shortly.' That, together with the premium placing took the sp to record highs. No doubt the placing shares already sold for a profit.
People did warn about the Lenigas connection. Lost all faith and trust in the management. Can also see 10p on the horizon if no drilling until Q3 or beyond.
Incredible under reaction to a stonking company making RNS. Will we see red today? AIM, and in particular IRR, totally unfathomable.
'and submitting the application to the Minister for award of the Licence early in Q2 2021.' Depends how you read it. Could be submitting the application to the Minister early in Q2 2021. That's been done now but i agree it was late.
According to todays Daily Mail there is an acute shortage of mining professionals in Australia just now due to Covid travel restrictions. This could explain the delay in starting the drilling. The mining industry are lobbying the government to give exemptions to mining staff to alleviate this problem.
For goodness sakes Manro stop whining like a child, sell up and booger off!
You knew what you were investing in. An AIM explorer operating in Mongolia. Don't tell me you didn't expect a bumpy ride. Soon we will know which way we are heading and my money is on upwards!