The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I don't think market makers will buy/sell substantial volume without a counter-balancing transaction. So they are almost certainly boths buys and sells, the price being set so that the two sides of the transactions balance or nearly balance. Or at least that is my reading of the situation. Happy to be corrected if people know differently.
It is interesting that people's expectations of the value of the company seem to change along with the current share price, so some would be now happy with a figure thought risable before. I'm not convinced that the recent news and drop in SP have really changed the true value of the company, which I continue to believe is much higher. Obviously IMHO only. DYOR!
Anyone have any time estimates when we might hear that the phase 2 drilling is complete and (non-assay confirmed) estimates of what the latest holes might have revealed. Indeed do people have any info on how long the time between drill hole completion and assay results being revealed currently is. Colin doesn't seem to being keeping us up to date with even the basics nowadays. I wish him well and hope his laryngitis and typing hand damage are better soon!
Howezap
If that is the case how do you explain Coiln's words in his last interview:
Don’t be surprised if we get into a near surface extended drill program
Isn't Ascot over and done for this year? Surely it is Newmarket that is the hot thing in the papers now! Colin, anything to tell us?
Do we think we will get a Vox market interview with Colin? He could do with steadying the ship!
Again a hint at a stage 3?
"Drilling of what is expected to be the final Phase 2 deep drillhole has commenced at the Ascot prospect and results will be delivered in due course." So what are we expecting at the end of phase 2 ? An updated model of at least RC? And when? Drilling of last hole started so say 2 weeks to complete, 8 weeks for assay results then 2 weeks to assess ending up about mid October for a round up of stage 2 and the stage 3 drilling plan to be announced maybe?
Also the delay might also be intentional because Colin fears that if he announces a phase 3 drillling programme before we have more firm data on income from Africa that might really hit the SP.
I have re-listened to 324 Traders café with Colin Bird on Vox Markets. I may just be catching up with what others have already understood but starting around 3 mins 55 secs we start getting a whole series of hints or even clear statements about, what I am now suspecting, refer to a probable extensive phase 3 of drilling. For example
About Ascot: " Don’t be surprised if we get into a near surface extended drill program.
"I think we will end the programme, phase two, by firing two holes into Footrot." [Notice Colin's self-correction of 'programme' to 'phase 2']
'[there are ] other anomalies to check [ notice the plural]
"Lot of hard work in front of us."
"I’m pretty sure we will be ending up with a near surface programme at Racecourse and Ascot."
This doesn't sound like a man about to down tools and sell anytime soon. I suspect we may soon/imminently (lol) get news of an extensive phase 3 drilling plan that will knock any idea of drawing a close to exploration and then a quick sale firmly on the head. Have others already come to this conclusion some time ago? Or perhaps some think i am reading too much into these comments or that perhaps they could even be a 'poker bluff' of sorts.
Ha Ha Howezap, I appreciate your efforts but I think you may be underestimating the depth of our misery! We probably need some serious good news from CB to pull us out of it, not just the possible location of a drill site! Ho hum, perhaps some significant good news is (to coin one of Colin's words) 'imminent'.
DuffMiver just report one of his posts, saying he is claiming to know things he doesn't just to ramp the SP. I have already done so, and if others do the same then ..puff all his posts will disappear!
But weren't they just (lol) putting a couple of more more holes in RC to fill in gaps in the model, and maybe a couple in Footrot plus maybe more definition of Ascot. Do we now have a hunt for a new porphyry as well or maybe even a complete tenement general porphyry hunt ? A bit like an Australiian 'Easter egg hunt' but for porphyries and not eggs? All without clarity to share holders about anything at all and actually worse Colin seems to have announced one strategy to the market via RNS and a definitive timescale in a public interview but he now seems to be following a completely different strategy and timescale. Time to come clean Colin.
Thats's a significant trade just gone through. Labelled as a sell but who knows!
I agree to a large extent Lucky. Lots of us were about talking about a SP up to 40p before we even knew about ASCOT. Now everybody appears worried about ramping, and are talking about a lower SP without adding in anything for Ascot. On a minor point I disagree slightly that you included Footrot as so far I think Colin has only indicated he wants to drill a couple of holes in Footrot. He has not (to my knowledge) said that we will find mineralisation there only that it is worth a shot to investigate.
I don't think we have had an RNS this month yet, and I'm not sure of the chances of one tomorrow (my crystal ball is broken). So if you want to be sure your prediction is accurate stevem you may need to get up early (7 am) and post something here yourself.
Colin can be a bit difficult to hear but listening to the JUN 8, 2022 Midweek Takeaway with Colin Bird, I'm pretty sure that he said at Race course there was a high grade component made of gold and copper which should payoff the cost of the infrastructure in the first 5/6 years and then you've got a huge pit, I don't know, 600m deep, 450m wide and 1.5 to 2 kilometres long . Start about 1 min 16 secs and listen. Are people hearing the same as me? If I am right what does that do to the estimates of resource we have got. Note that I am not sure but the pit size possibly also excludes the shallow high grade component.
I think I suggested ages ago the re-rate would occur in September ...... I just got the year wrong!
@theiceberg, thank you.
pPe-production sounds good news, but I couldn't find the term in the website of mining terms I searched. So what does it mean exactly and how long is there normally between pre-production and production proper - two/three months?