RE: Sales agreement now well overdue.22 Jun 2023 13:30
Because it says there's no appetite for the shares atm. That there has been no real appetite from the market since December to show there's more than photo evidence of the vlaue being worth more than the current value, which is 22. (have to say the teeny insta pics of chickens does the importance of investing much good?)
Production at Molulu started in January and there's still no proof of a MOU. They can be well in advance of actual delivery but, for all the meets, no rns as of yet. daresay one could argue they're all fighting over the supply but even a non-binding MOU would be better than no news at all which, after 5 months is not supportive of the sp.
That someone throws extra money into the share at 25 doesn't tell me if they're averaging up from a 5p level or not. And I couldn't say why they would throw their lot in. Sufficed to say, they're currently down.
You can argue that the current sp is just a snapshot of the state of play but either 33p was overbought or 22p is oversold. But either way, actual production rns and revenue is noticably absent. And if the point is to just sell the mine without the production then don't bother with the bridge.
I get early buyers are fine with things as they are but I don't see anyone talking about the company. You can shoose to believe that's immaterial as you have a long term view but that's not the norm and I don't particularly like the delays as they suggest something other than optimism. Let's call it frustration? I was expecting news weeks ago an don't understand why a deal hasn't been done, even i delivery would be weeks or even months away. at the moment, what i see from the pics doesn't look like a successful funior miner.
of course, if you have the cushion of a low average then
Sign In
Follow the stocks
