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Probably see some large delayed buys in that gap up from 8.2 to 8.7 later today...
I think it has bottomed and turned the Baron Holding killed the momentum, but gave many a better opportunity to buy in for the next leg up,, every cloud has a silver lining....
Fiar enough Woods, but that is the past do not let those experiences impact you now...they can't hurt you anymore mate.
Why are you so cryptic Woodie...
This is the only question I have as well. Either they are part of the OML11 deal and will be awarded options at a much higher price like the CEO or they will get that deal out of the way and start buying on the open market. Only a matter of time for the OML11 funding to be announced, the Qatar OPL 310 caught a lot of people by surprise...what other surprises do they have for us...
Profit taking the Baron RNS just accelerated the profit taking, buyers will be back soon enough, re-rate will continue.
They signed the MOU on the 1st of July and since then everything has been put into place all they await now is the Financing Sign off with a "Major OIL Company" which everybody believes is SHELL. So the M.O.C. /Shell will provide part of the funding and will also sign an off-take agreement for the OIL produced, but there will also be other financing partners, It is interesting that Qatar never took any security against OLM11 even though it is the producing asset.
I think they may also be part of the OML11 funding together with M.O.C/ SHELL. This is the next news that is going to set this off back to 20p - 30p range.
GL ALL HOLDERS
OMITC
The only question I have so far Nickel about the Qatar deal is why have they not take a position in the shares? The have the CEO share pledged but have they not taken share in the company to benefit from the upside in the share price?
Not nice to see profit wiped out or even be sitting on a loss, but the baron holding RNS did not bring me in here it was the Qatar Investment Authority funding RNS, so happy to hold for the re-rate to continue.
Picture still the same...re-rate still on
you think I will wait until it pulls back and then you look again and its 12p and then yo look again and it is 15p and then you look again and it is 20p and before you know it has done 100% in a short space of time. Good pattern so far slow and steady rise as people take profits and other take positions.
All the RNS thus far are extremely encouraging, re-rate on.
I thought DP was going to prove up the resource and sell it on, but based on all the interviews and RNS's I think he is now going to start mining it first with a low cost open pit operation and trucking the ore to their neighbors to process. Still a way to go and this does not mean they will not get an unsolicited offer but looks like the CEO is going for it alone.
Alansugareatyour, My view is simple...
1. Doubt any more warrants will be issued at this price (could be wrong - cheeky 30% if it is still at 1.3p tomorrow)
2. More sellers than buyers because news-flow is perceived to have dried up (I expect an updated JORC in the new year)
3. It is close to Christmas and Liquidity is going to be thin until at least the 6th of January 2020
4. Hell of a lot of big buyers sub 1p watching their profits erode are simply cashing up - Including warrant sellers
5. A lot of people on the side-lines probably wanting in but not at this price
6. Bottom could be 1.1p or less if there is no further news
7. Buyers will return when they see a decent entry and when I say buyers those wanting 1 million shares plus as the 100k buyers clearly are not moving this share price
I am waiting to add but I would like to see where this settle, just too many sellers and it has been like that since last week MM have ample supply and there is simply not enough demand (hence every time I call my broker there is no bid, which puts me off adding right now).
Very much sentiment driven and the sentiment has changed, we now need direction from the company in terms of next steps. I still believe a JV or buyout will come but I was hoping it would be based on these set of results, but there is no hope in the market when reality hits and sentiment turns negative! This is still at the early stages and I think they need to drill more to better understand the resource so possibly after the next set of drill results an offer could be made.
All my own thoughts based on the information available so far, if a JV offer or buyout offer comes in before that then that will be fantastic but next step looks like:
Jan 2020 - Updated JORC
Jan 2020 - Start of New Drilling Campaign
Feb 2020 - Some Drilling Results
Mar 2020 - Majority of Drilling Results (More Warrants if news is good)
Mar 2020 Way forward - Open Pit Mining/ JV Talks/ Agreement/ Take over
GL ALL
OMITC
Indeed what if they found no gold? Where would the share price be? AIM companies are driven by sentiment and rarely on fundamentals, they have found a potentially massive resource, but sentiment has soured...
Lets see where it settles and buyers come back in...
I think the current holders are being short sighted thinking there are not going to be any more drilling results but I think they are going to start drilling again very soon and based on those results we should see some offers or JVs.
Anybody just waiting for drill results is being short sighted....when I listened to this the first time...my theory was confirmed he is going to prove the resource and then sell it on...that is my theory anyway...I think the open pit is just a ruse saying to those watching and wanting to buy it "that we can start this ourselves with a low cost open pit mine and truck the ore to nearby plants to be processed".
That is why I do not mind the warrants...cash in the BANK to strengthen his negotiating position.