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have a feeling this will reacted to in the same manner as the purchase of the 2nd drill announcement. Initially positive, and we may have seen all of that yesterday, and then sold into as it isn't what the market really wants.

I can understand the excitement after the last couple of weeks of slowing diminishing SPs, but it's still only 1.65p bid - hardly flying....

I agree colorblind86 but I think if there is no progress by end of next week they should issue some sort of progress report regardless, if nothing else it will tell us what progress if any has been made in further drilling.

the EIA will be whenever - totally out of our hands. But not concerned, patience is al that's required. I'm strangely heartened by the 7% decline on such low volume, inasmuch as what we can expect to the upside once the news is announced and real volume attempts to invest. Also these sells are no longer available as sales once that news is announced.
What I would like to see, and something which is within the company's power to give, is something about the drilling progress.

yes predicted sales this morning -no worries they would have exited pretty soon anyway, better have them done and dusted.

This just offers a temporary (hopefully) opportunity to pick up a few more shares at a very good price. The EIA cannot (surely) be far away now? We are four days closer than we were last Friday when we were trading above 12p. Time is the factor, that's all.

JF - I agree it would be insane - but this be AIM, there be insanity.

yup I'm totally comfortable, 100% backing MF.

No distressed selling to be seen from here.

In fairness he didn't say by end of August (or did he?)
I don't think we can legitimately accuse him of 'over-egging' the market, he has stated many times that there are a lot of variables/moving parts. I guess he's treading the fine line between supportive and realistic CEO given there are things simply beyond his control.
Once we pass the EIA & ML hurdles I guess I'm more comfortable holding him to account as he's 'more ' in control.

@Super - investors and traders both buy and sell with the aim of making profit. The only 'possible' difference is time horizon. You can buy ECR today with a view to holding it for a year - does that make you an investor - and if the market turns and you want to protect you capital so you sell two days later - does that now turn you into a trader?
I'm fed up hearing the trader vs investor diatribe it serves no purpose, both add liquidity to the market.

https://www.thehindu.com/news/international/sri-lanka-extends-covid-19-lockdown-till-september-6-as-deaths-rise/article36136243.ece

I see the lockdown is extended for another week. Although we've been told that authorities are conducting meetings via zoom wrt to CMET project, I wonder if this is adding to the 'delayed' EIA approval. I mean do they have to meet in person to actually pass it officially?

Another thing I noticed, we were starting to get progress updates issued to the market around the 20th of each month (well July and June at any rate) but nothing issued in August. Pure conjecture: I wonder if they were holding off as they think the EIA is that close?

Or am just that bored I'm overthinking?

of course, Lucky, we are a coordinated team. lol All in cahoots with one another. Haven't we played an absolute blinder?

Seriously though, I can see where the mcap could literally half from here, but only on a spike, if the remaining holes don't flame the market (for whatever reason; lack of understanding etc.) but at that stage I expect the market to say this is ridiculous and start buying, which is the new buying we're so desperately lacking now.
There's only so much retail money in this sector and as the ECR detailed drilling program draws to a close (hopefully CB et al are preparing a new program once they've analysed the current data) money will start to chase other companies with commencement/ongoing programs.

@AG, I don't disagree at all.

Good points ,AG. In fairness though, and correct me if I'm wrong, but you did sell your ISA position and left your sipp in. Correct?

What worried me most about that interview was the admission they had enough cash to get to Q3 2022. That's basically less than a year
Now you'll all start jumping up and down saying that yes but if they can discover something then the dilution won't be huge
But what if they don't make that transformational discovery in time, bearing in mind it takes time to organise a placing.

I have to say when I heard them in the interview the tone of the statement didn't inspire me as to it being something that was definitely happening - but wouldn't it be nice? I wouldn't take that statement literally and there's no way even at that stage they'd have enough data to make it beyond anything that was tongue-in-cheek.

interestingly I think BT of KAV made that point re KANYE & KCB, LW.
The JV plans to drill there by the end of the year (let's see) and he made the point if they do discover something exciting it might even be that they could package that up and sell it as one of the options rather than a spinoff. All these companies will be crying out for money with 12-24months. In KAV's situation sounds like they have enough money to last until Q3 2022, so you can see JV partners like that bringing pressure to bear on the option that might bring in cash sooner rather than later.

I think someone was reading Bitcoin's and Legalwolf's comments recently:

https://www.youtube.com/watch?v=HzJvkTQTQp8&t=307s

I know he seems like a marmite character but in all honesty had I not heard him talk with Sarah Crowther on TMS about CMET I would never have researched the company and discovered what a gem in the making it is. I started buying in at 14p and have continued for sometime so I'm about breakeven I think right now, or just about.
I mean you hear what people have to say but you should always do your own research, your money your responsibility, which I'm sure you did. I know I did and this was the first 'no brainer' I'd seen in a long time.

I just doesn't seem to want to go higher at the moment no matter how many times CB & Alan Green come out with an interview or a presentation. It feels as though it wants to make a lower low. Hopefully September might bring better things or further consolidation at least.

yup. if anything after the upcoming long weekend we're so much closer to news.... I wouldn't want to be out over the weekend or even not filled to capacity.
I see MisterX, apparently he's DocHoliday, is also tweeting the CMET case today.