Member Info for Phoebus

Still almost £400M. Russian chap dumped loads of shares.

https://www.londonstockexchange.com/news-article/market-news/form-8-dd-eurasia-mining-plc/14842949

GM definitely knows his onions when it comes to the markets. Followed him for years.

https://twitter.com/GregMannarino/status/1354440334005030912

Metals and indexes all hit at US open but bouncing now. It's Fed nerves.

Not at all. BTC crossed stock to flow line multiple times during previous bull markets. Being at this level tells us BTC is on sale.

BTC just hit stock to flow model line.

Greg Mannarino remains very bullish on the markets in today's video.

https://www.youtube.com/watch?v=xlZ96Js3Xrs

FOMC statement is at 7pm UK time. Markets waiting for that to pass.

Surely it's one buyer for every seller with BTC as it's order driven not market maker driven.

since the dip to $28.8K

I think the markets and inflation related stocks like commodities and crypto in particular are a bit nervous as to what the Fed will say later today, although I expect it to all be bullish and for things to pick up again from tomorrow.

Nope. BTC has followed stock to flow model very well over many years and this is currently sat at $29,350. BTC got a bit ahead of itself in early Jan and appears to still be consolidating ahead of the next rise. The cyclical crypto bull market linked to BTC halving appears to be going to plan and 30% pullbacks are frequent in such phases. The current BTC price will be below the stock to flow model line in only 9 days meaning BTC should increasingly have nowhere to go but higher. Look for a big pick up in BTC volume to mark the bounce.

'doing his own research on Reddit boards like r/pennystocks.'

'research'

LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO
LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO LMFAO

Survey results are due any day.

Brad's golf clubs in the right of shot. Anyone publicly highlighting they play that tricky sport is one seriously cool customer. I guess drill results are so good Brad is super chilled and hitting birdies with the Agnico and Newmont lads. Keep up the practice Brad and you'll be ready to for negotiations on the fairways of Hainan Island when you get the call from Mr. Big at Zijin Mining. Ganbei!

Hmm.

Why have we spent 1/3 of our cash on this? This is not what we signed up for and has muddied the waters of what was a clear oil exploration proposition. Green energy is in vogue, but the return on this investment is known and far from impressive and has significantly reduced our cash position. If I invest in an oil exploration company I'm expecting much more than a 13% return per year.

Prior to this news I thought there was a chance we might get another placing before drilling started next year, but now I feel certain we will and for a much larger amount. How easy will that be to pull off with the current lack of appetite for exploration drilling? As a long term investor here I do not welcome this turn of events and have reduced my holding.

I don't think so. Thanks for the notes guys.

You clearly don't know the sector very well if you think there are no exploration drills with a COS of 30% or more. There have been loads over 30%. Some are over 40% or even higher. Tanager-1 was an exploration drill and that had a 72% COS. 22% is towards the low end of what might get drilled under normal circumstances and as Geowiz points out Majors are risk averse.