Member Info for Phoebus

So what was the ruling then? It doesn't appear to actually say so in the RNS. LOL.

You could say that about a huge number of companies on AIM. Doesn't stop their shares having countless large rallies during the intervening eons. Finally getting into production is definitely not the only reason why AIM shares rally and in many cases AIM shares often hit their nadir just before they finally so go into production despite being much higher on much less significant news on previous occasions. Market cap is under £2M here and it won't take much in the way of 'operations' to act as a catalyst especially in the current gold bull market.

Government has rolled over at every turn so far.

Ticks up to 3.6p. Still nowt available.

Not even 100K shares available.

MMs will take chunky amounts well over the bid. Excellent.

and now someone has had to pay over the ask for only 250K shares. Bodes very well. Could see 4p very soon IMO.

Seriously? Operations has a much wider meaning than that. April 6th RNS states,

'The Company intends to commence prospecting and mapping followed by soil sampling at the Lead Trial prospect AS SOON AS THE WEATHER ALLOWS with the aim of outlining future drill targets and identifying other gold targets within the license area.'

That's more than enough operations to get a tiddler like this moving especially in such a gold positive environment.

As I said ealier my guess is that those shares may well have already been forward sold into the market. Volume has certainly far exceeded that over the last few days. In any case the market is already well aware of the situation so it should be discounted in the price already.

Anyone else here noticed that investegate.co.uk is not showing RNS properly until about 7:45 every morning. Has been a problem for about two weeks now. Doesn't give you much time to see if there's any news affecting your investments before the market opens. It's a pity as the service has been excellent until recently. London Stock Exchange also updated their interface this morning and it's awful, litered with NAV announcements.

I agree. I think they played hard ball, a bit too hard and BPC decided it was better value for shareholders to go it alone. However, the fact that drilling is now going ahead might be what finally makes farm in partners make a sensible offer and avoid missing out.

'71Mt @ 0.44% Cu and 0.064g/t Au'.

71 x 0.064 / 31.1 (g/OZT) = 0.146M OZ @ 0.064g/t. As far as gold goes that's a very small JORC resource and extremely low grade. Inferred is also a highly speculative class of resource.

A farm out could mean the drilling of two wells. Drills going ahead now so someone might just decide to get in. Seen plenty of drills where someone has farmed in late in the day and this is certainly one of the biggest wells of the year so plenty may be tempted.

to new highs.

A few months till operations start or not this market cap is far too low in such a gold bullish enviroment. With the exception of GWMO, PALM and WSBN, all of which have s negative or near negative net current asset position, ERIS is the PM stock with the lowest market cap on the LSE and yet it is almost 100% underpinned by its net current assets at its current market cap. When this one finally moves it should do very well and with little downside risk. STRONG BUY

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The SP chart looks very bullish indeed.

3.35p is also the rally high, slightly higher than Friday's 3.325p. If that goes 3.5p is very close indeed so I don't expect it will offer much resistance.

Yep. I saw 2 buys of 2M at 3.35p day high at 09:24 and 09:37. Good stuff.

I don't see 10p by Friday either, but 4-5p range definitely in sight IMO. SP is barely 50% of the pre COVID highs and drilling was still 2-3 months away at that stage which suggests it was headed higher into drilling. Rig contract is now signed and costs have been reduced this time around.