Member Info for ontarget

For their maiden drilling in Mali KOD took 2-3 weeks to drill ~18 holes down to ~100m depths with RC drilling. AGQ is only drilling down to 20m using an auger drill which is faster than RC drilling. I doubt they are drilling that many holes initially so it's extremely likely the drilling will be finished within 1-2 weeks. It started on 24/7 so that's 31/7 to 7/8. At that stage they'll be able to update on how the drilling went and timescales until assay results are known. KOD took a further 5-6 weeks to announce assay results but they had a lot more drill core to test than AGQ will having drilled to 5x the depth.

What's zenith?? Do you mean Zacatecas? I'm talking about news on the lithium drilling in Mexico.

Have dipped a toe in here. Upside risk seems far greater than downside risk. From listening to the podcast with the CEO I would expect news within the next couple of weeks at the latest - could be anytime in fact.

Yes can't buy either on Selftrade. Was going to dip a toe in on the strength of that podcast but will wait for a bit - could be MM games after those sells.

Website replaced by ***** Silverlight. Any chance you could repost (maybe with some spaces or mispellings to fool the censor)?

Wakey wakey. Must be a very good chance it will be approved this time.

Thanks myfairlady, so you're saying he'll short-sell and then close by exercising the warrants. However that doesn't explain how he would have a 10-bagger at 60p which is what growingballs and shareprofits said, he'd make a 26% profit (which I'm pretty sure is what I posted yesterday).

Hmm that doesn't quite make sense. You can only sell the shares once you've exercised the warrants (and hence bought the shares), or are you suggesting some brokers may allow you to do it the other way around? Even that doesn't add up though unless the profit on the warrants exceeds the cost to exercise the warrant. You can't get away from the fact it costs £2.4m to exercise the warrants because that's what it costs - and that cost has to come from somewhere. Unless what you're suggesting is he will sell his existing - unrelated to warrants - shares in the company to cover the cost which is something else entirely?

Hang on I think i see what you mean now... As long as he has £2.375M hanging around then you (and Shareprofits) are basically correct..

What do you mean 'sell his warrants' growingballs? For one there is no suggestion that these warrants are tradeable and even if they were what would they be worth? If under the exercise price then clearly very little and if over then the difference in price which he would have got in profit anyway so there's no difference?

Yes the bit about investment warrants is incorrect. The warrants are exercisable at 47.5p, so in order to use the warrants the CEO would first have to pay the sum of £2.375m on top of the £50k already committed and if sold at 60p would make £625k profit on that, which is a 26% profit - bit different than a ten-bag!!

No change in Pressac's shareholding. The % has changed due to the share issue to directors earlier in the month.

So one reading of today's RNS is that they are intending to raise a minimum of £10m through issuing shares at 60p or more and invest at least £40m into one or more investments, and they intend to do this much sooner than 24/12.

Looks encouraging, and a bit of insight into what they are intending to do there. And good news that the warrants have been extended from August to 24/12 - that would be a nice xmas present for holders if they can pull something off by then.

Possibly. Seems to be rising on every buy. Mind you it could just be the MM's walking it up and down like they've done for the past 4 months.

I see so they have a director in common.

Is there any evidence of KOD involvement or connection here?

A sudden narrowing of the spread. Something afoot?

is it.

Yes Ary investments are one of the larger holders here who bought and then (partially?) sold out to other holders - see holdings RNS's for more details.