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Market cap is 4 million and they raised 2m - thats a huge dilution !
Agree with you, specially since it could be huge pending news of Farm-out
Once the below two conditions are met, this will most likely be in the double digits. Excerpts from rns:
The principal conditions of the Farm-Out still to be met are the extension of the Mtwara Licence and approval by the Tanzanian Government of the transfer of the interest and operatorship.
The longstop date is 31st october - there should be a massive news before then. It has already doubled from the low of 3 months ago
This looks like it has hit the bottom
I have read the rns filings filed here and the asset valuation looks quite high compared to the market capitalisation with production planned in mid 2021
Can anyone who is more knowledgeable advice what is the story and what is the future, I would be really appreciative
PS:The management also has bought shares are roughly 50% higher price than current?
There was someone called crow or something like that that was constantly ramping, where has he gone now and what happened to the many millions he was going to make off this share and treat himself by buying an island somewhere
For the size and progress they have made it should be double but generally markets are quite dry lately so everything has taken a beating over last few months.
Patience here will pay off hugely
Because liars get a high from lying, it gives them immense satisfaction, like serial killers
"So, the next piece of talking up I'd expect to see would be if another round of "pre-IPO" fundraising magically appears."
who else do you think will take up shares. Only pre existing ones can be further fooled into a hope of putting good money after bad money to recover
Anyone else will see through the lies or find it too risky
Very soon Amit will have used up all his tricks until then the hope of Ctag will live on
Development on lithium, eventually they might come for our assets.
Legal battle in the race to control the world’s supply of lithium, a key element in batteries that power electronic devices and electric cars
https://www.wsj.com/articles/deal-to-create-chinese-lithium-giant-faces-legal-challenge-1540123201
Typical 3 steps forward, 5 steps backwards
The management somehow keeps interrupting whenever this picks up, maybe they want to keep it cheap for the Chinese to buy more into it based on deep discount but at the cost of other genuine holders
Probably more funding on the horizon and for sure from Chinese - dont they have to inform the current shareholders when talks are in progress instead of once placement is done.
On aim, usually large orders dont fill so most traders give instruction to fill at any cost
on Jorc many traders would have wanted to exit - I have a script that opens a rns page as soon as it is publised on my pc, no matter what I am doing, within 1 milisecond and its not a complicated one to build. One can build something that rings via computer speakers when Kodal rns is publised for instance
So many who were waiting for jorc must have sent order to fill to their brokers assuming they will capture some of the jorc up movement and make an easy gain
The stampede has caused a knee jerk reaction, some sold at a loss - I think this will rerate sooner than later.
It is a good rns, the last rns about jorc attracted a lot of traders who wanted to make a quick buck. As soon as this rns was released all were out
Long term holders have no reason to be alarmed
This might turn into positive end of the day once people realise how good the current rns is
Shares go up or down because many people buy or sell and not due to business fundamentals. Although long term they move on business fundamentals.
I still think this will slowly crop to .70 until news and then 1p on news After news it will be around .8-.9 But immediately it will go down as people will book profits. It might touch .3 but lot of people will book profit at .3 so it won’t sustain .3