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Does anyone know how long the drill permitting at Brockman is likely to take? I am looking forward to results and a possible JORC at Han**** like everyone else, but most of the iron ore we think Alien has is expected to be at Brockman

Delighted to see this move up but don’t think it can just be a case of people noticing the valuation anomaly relative to MAST (which is not a very recent development). My best guess is that there has been a news leak and that there has been progress on either Wowo or Burwell which has not been announced yet. We’ll see

One interesting thing is that according to the buy/sell data there have been basically no sells this morning, just buys. Clearly the bid and ask have dropped but people are not actually selling. This should recover pretty quickly

Natural to feel a bit of a disappointment given the likely short term effect on the share price. However, some things to bear in mind:

1. Explorers are dependent on capital raises for cash
2. Such raises are basically always at a discount
3. It is therefore advantageous to do them when the share price is relatively high on a medium term basis
4. Rockfire has a lot of drilling to do
5. Drilling is expensive
6. The fact that the placement is to an institutional investor is encouraging and may also make short term flipping just above the placing price less likely
7. This raise has no real bearing on what the share price will be in 6 months

Well it’s a tough old market for junior miners at the moment. Compare SHG which posted underwhelming production figures and is down 25-30%. At least SRB is staying still! When sentiment returns to the sector it should take off

I would say that for a junior explorer and producer which has recently raised capital for drilling it’s pretty important that exploration results are promising. So this is a good RNS. True we also need good production, but the Q2 production figures were good as well

I wouldn’t rule out this possibly being Corcel. They have indeed mentioned an intention to proceed with 50MW battery in the first instance, leaving the other potential 50MW of the project over for future consideration. And it wouldn’t be at all surprising if they were planning to locate this project in a subsidiary company. In fact it would be surprising if they weren’t. (On the other hand, it could be unrelated!)

I think the key issue re Burwell is whether there is any alternative land we could potentially use. If there is, the board should be pursuing that, partly as a genuine second option and partly for leverage. If there’s no alternative land, that doesn’t leave that many options for preventing the current landowner from p***ing about - if we can’t walk away or even plausibly threaten to, what leverage do we have? (Apart from expiry of connection rights, but that isn’t imminent and is therefore hard to use as a hurry up)

This post is a good example of how a series of true or mostly true statements can nevertheless add up to an unfair summary.

Burwell and Mambare are subject to timing issues which are out the board’s hands (granted communication should have been better on Burwell)

The gas peaker projects were only acquired a couple of months ago - do you really want/expect an RNS already saying we’ve looked at two months’ gas price movements and we’ve got a problem? Who would behave that way?

Wowo - yes, one would hope for news soon but to be fair the debt isn’t due yet

Dempster, I agree with you

I agree and I would also point out that for anyone considering investing it’s quite off putting if you look at the message boards and they’re full of angry people sniping at each other

The lack of patience on display here is absolutely ridiculous. There’s a chance here to make 10+ times your money in 3-12 months, but people come in expecting absolutely instant news and wet their pants if a few days go by without an RNS. I would say “exploration takes time” but it really hasn’t been long enough to need to say that!

Really good results out this morning. Meanwhile the SP is low again (along with much of the junior mining sector). An excellent buying opportunity here

A lot of those “sells” are really buys, to be fair

“ The original high-priority targets identified by Alien prior to Capstone's involvement remain untested”.

This is surprising and interesting, and seems to justify further work on D2 - something that many were previously not convinced was worthwhile.

I think it’s a positive to know that this project still has potential.

According to JMAT, Rhodium is now up $1800 in the last couple of days. If it is heading up again now or even stabilises around here, we could see some positive price action in the coming days on the back of this combined with strong results

JMAT has the rhodium price heading up again in HK this morning

I agree, there are few multi-bag candidates as strong as Rockfire. This and KAV have the potential to be life-changing investments. KAV possibly has (even) bigger upside potential, but Rock is safer due to lower starting Mcap and the fact that we know more about what’s under the ground. Exciting times

I generally agree with this and don’t normally mind Sotolo’s posts

I’m not saying you’re necessarily wrong, that’s not the point. The words “negative” and “gloomy” refer to something else.

In any scenario, there will always be a long list of positive and negative points that can be made about a company or a set of results, and a long list of positive or negative opinions that can be expressed. All the points may be true and all the opinions possibly correct. Negativity, therefore, is a question of emphasis.

I’ve previously defended your right to be negative, Sotolo, but that is an extremely gloomy reaction to an excellent set of results.

Record chrome production? “I expect the share price to stay the same unless it goes down”