CMRS only have 65m shares in issue and there seems to be a cohort holding onto these tightly so even modest buying (and selling) causes large swings.
I said the same a few days ago FK, they could be in the closed period now though looking at the date of their annual report last year..
It must be frustrating as a POW holder Stan but under the circumstances I think KAV were right not to proceed on the original terms. I don't see it as necessarily dead in the water as you said on the POW board, it's clear they'd like to do the deal if possible.
I somewhat agree Legalwolf, if they can get the share price back up a bit and some confidence with success at Ditau perhaps they'll be able to renegotiate on more realistic terms.
Impossible to make any meaningful comment on this... still, better than silence I suppose whilst we wait for more detail.
Ridiculous fall considering the volume traded. Most likely just MM's dragging it down in the context of the overall sentiment in the markets today.
On a different note, are KAV currently in a closed period? Ben tweeted recently his thoughts about the drop being hugely overdone, would be nice to see him buying...
Yeah I think the short term strategy now should (and appears to be) to maximise their chances for a couple of 'quick wins' to get the share price moving a bit and get the market's confidence back before they're forced to raise for further exploration at hugely depressed levels..
I think we've got a good flavour of how Ben operates by now. Yes he's prone to getting a bit excited at times and possibly 'ramping' but he's very good at providing and translating the technical aspects of the various projects so I try to ignore the excitement and focus on the work published by the Geo's which Ben presents with some skill I think.
For the record I very much hope it isn't!
Do we think the 'interesting corporate development' will be the Kanye IPO announcement given that they're en route to Ditau?
Indeed fingers crossed. There's not really been much news on Ditau recently, Ben mentioned in an RNS last October that they'll be using further TDEM's to locate the targets but I've not seen any updates on this, seems the focus has been on the KSZ since. I'd like to think they'll apply the lessons learnt from the imaging of the last hole and would actually be happy for them not to rush into drilling this until they've got an accurate a picture as possible from the modelling.
Considerably more buying today, I wonder if more news is on the way (hopefully positive re the JLP JV). I thought the last RNS was very positive despite the unfortunate timing of its release! So far I'm really liking MC's no nonsense and professional approach building out this company.
Thanks for summarising that
I've not kept fully up to speed with the detail on the Molopo option but won't we be giving up a lot more equity at these prices?
I see Ben's replied on twitter he'll be giving several interviews as there's 'lots to talk about'..
Good discussion this morning. I wonder though if as speculated the extension is to include an anticipated share price rise, why wouldn't they extend for longer still?
Whenever my mind starts to wander I think back to Mike Moles' buy..
Volume is tiny, no cause for concern IMO.
Agree Keith, as concerning as the situation in Russia is it could be a considerable tailwind if we can make a meaningful discovery..
Ben has made no secret of being 'in talks' with major's and that they've been impressed with the modelling but needed to see rocks. Assuming this is true, now that presumably they've recovered the rocks it wouldn't surprise me in the least if analysis is being undertaken behind closed doors.