Member Info for mattwales

the market realising they need more cash is likely to keep smacking it down, this and the issue of more shares at the market price end of Sept is going to be an overhang and could see 0.09 by end of September, especially if results are as bad as just announced.

reading between the lines it looks like its game over and uncommercial. They could gamble after Sanama to drill more of the rest of the asset but it'll be a death spiral dilution based on the cash they need. Also if half is paid in shares and the drill comes up short like last time it'll completely fall through the floor and the driller will pick up a truckload of shares diluting everyone again on a downward spiral like Darwin etc usually do. With no further drilling this year all the SP can do is drift further down.

really not sure what they can do now, we can guess assume remaining results will be just as thin and poor. then eq drilling get issued more shares at a lower price than they were just issued. Then what do they try and keep drilling the other zones, it could be a dead spiral financing with more and more shares issued.

with equity drilling receiving shares the end of sept that's another overhang here, could be wrong but feel 0.1 or less is on the cards again especially with no more drilling past rainy season

pointless recommending a buy target when no one buys it. based on what we have so far sanama will be at the lower of end of the original SRK target of 0.8m to 1.5m with nothing else yet find and so far indicative its not there to be found.

I agree cherryburn if results are the same from the rest of the holes I feel this will unfortunately sink further. Good luck to all still in.

way I see it even if the last results were below everyone's expectations at least they're carrying on to drill more of the asset before the rainy season hits, imagine if they'd down tools till next year.

hearing talk about gold on surface, gold everywhere, drill cores looking good etc and then the drillers buying in hyped it up further, results very disappointing all around. Everyone including myself based on all the statements believed we'd be looking at 5 million ounces+, at this rate the company will be lucky to hit a million ounces.

i expected a rise 0.5s didn't come to pass, people waiting on sdelines for results and sellers bailing out on any good news doesn't suggest 1.2p will be hit anytime soon. The election has hit a lot of shares across the market in particular AIM.

no worries good luck to everyone

now it could extend back all the way back to 0.69 before next batch of results but I doubt it cos 1st batch weren't that good but I do expect mid to late 0.50s

kimura to me the 0.4 placing price was a technical bottom based on fibernacci retraces, after the placing at 0.40 it went up from 0.38 to 0.69, and had already retraced almost 100% from the high, it could have gone back down through to 0.38 but to me highly doubtful because as soon as we get near 100% retrace levels people usually pile in.

people would be piling in before it hit 0.39 IMHO

I cant see this going much lower than the placing price at 0.40 and pray for everyone that is still in this is at the bottom, then probably a bounce up to mid/late 0.5s before results.

kimura I feel the early interviews may have been the issue, RM talking up his excitement about the drill cores he's seeing and gold all over the place then they came up short on TZ2. if that excitement was genuine this will fly when results issued and could still get to 1p, if not it will plummet

the first drill at Sanama was off if everyone remembers they even spoke about it when they got the IP data even though they averaged quite high grades on those drills they came nowhere close to that drill result today. I feel the gold is there in the eastern target but drilling for gold is like finding a needle in a haystack, they will reassess their assays once all the results come back and will know the TZ2 target as well as they know Samara as a result.

well yes exactly the zone is vast with drillholes spaced out hundreds of metres apart so could have just drilled in the wrong place like they did with the first drill at Samara

oops TZ2....hopefully the next batches from here are better, he indicates near one of those drill holes they found 4.8g/t so you never know, good luck all

i was dissapointed with t22 and the risk is they don't find anything there, especially with RM saying gold is everywhere. however another part of me thinks maybe they sent the crap batches of t22 so the driller could get cheap shares so its one of them

don't get me wrong the sanama hill result was way beyond any measure of expectation and it wasn't that the market didn't like the results as the SP opened up, its just the same old AIM people sell on results and then felt force to sell myself.