SP holding up well despite a flurry of sells after lunch. I wouldn't be surprised to see a few decent size buys stated after hours. SP currently 100% away from the value of a cash shell. (look at MTFB - Billions of shares in issue and yet it rose 600% at one point in May) CZN have better backers, more money and half the expenditure.
Another one. Someone is having fun (while losing money on their broker fees). Ask will almost certainly be moving up and over 1.5p today. Lots of interest with RTO announcement due shortly in-line with the exclusivity arrangement/expiry. Minimum value of 3p here. RTO confirmation could send the SP much further.
RE: Black Rock Mining suspension extension03 Jun 2020 08:55
Its a very real possibility that we will get an RNS on Monday morning to announce the partnership along with the DFS. Without the partnership the DFS should still be here within days which begs the question... why are sellers handing shares over on the cheap this morning.
Nice bit of buying pressure today and at some points the spread has almost been reasonable. Share talk indicating potential break out to over 2p. RTO news in the pipeline Cash shell value alone is north of 3p. There quite frankly is no reason not to buy at this level. Well done to those that got in in recent weeks at sub 1.1p
RE: Formal Planning Decision Announcement02 Jun 2020 10:03
After the planning decision it is usually only a few days. Maybe a couple of weeks at most. Lets hope it arrives fairly soon as the slipping SP is looking a bit silly given the partnerships and planning granted.
Most holders have been around for a while and very few are remotely interested in selling at this level. RTO news will push this beyond 300% in a day or two (potentially much more if the RTO deal is a better than expected). Nominal value of a cash shell is 3p (we are at least a 100% off that from the current level)
Given the spread in recent weeks we have seen upward (and unfortunately downward) swings of nearly 40% on very little volume. The MM's have very little stock so one sniff off positive news and we will see big gains very quickly. RTO news cant be far away given the timelines originally proposed by the BoD.
Its only natural to see a bit of negativity creeping in after what has been a long a wait for many holders. Wellesley didn't make an offer blind. They knew what they were bidding for which leads me to believe the BoD have to take it seriously and need to make structural changes before the offer can either be accepted or negotiated. Happy to hold for news.
The MMs are not helping anyone here. Spread still pretty wide which does lead me to believe they dont have a clue where this could go. Happy to hold and wait. If the RNS lands confirming the RTO the SP will double/triple in a day. Potential for big gains in a relatively short period of time
Provided you can wait the shares are as good as free at this level as the SP will need to be significantly higher to meet the fair value of both the funding partnerships and the planning permission. 10p easily in sight with double that if the BoD secure gov funding and get the building underway fairly soon. As I said yesterday the current SP is a bit of a joke given the balanced risk/reward for a long term hold.
The SP is starting to look like a bit of a joke. Major backing and the requisite permissions to get a massive green energy project away and the MCAP is £21m. Value massively out of kilter with the rest of the market. If they had Pharma or Bio in the company name we would be worth £200m on the 2 recent RNSs.
Nice rise and consolidation is doing long term holders a big favour. It essentially stops the arse falling out of the share price in the next few days if there is a little shake. Hold for Gold! (Cannacord 15p target looking rather underweight right now)
We wont be getting an RNS until the meeting is finished IMO. Although today's planning meeting is a box ticking exercise the BoD wont want to send anything out until the decision is absolutely final. Its a great time to buy and simply wait for the RNS to land for a potential multibag.
As ever, nothing is guaranteed but take a look at RNS's and the BoD's intended course of action over the next few weeks. There really isn't any good reason to sell at this stage given the significant impact the RTO confirmation would have on the SP. I am conservative with a target price of 3p but have seen many others intending to hold out for double figures (last achieved in 2018).
Pop - > Straight back to 1p The low free float works both ways. The MM's scour the depths to pull in some cheap shares and then move them on at a 20% margin within hours. If the herd arrive and start buying decent volume this will be an instant multi-bag as there are very few sellers willing to part with any volume below 1.40p.