Ok so we have enough money for another year of running, Do we think the RNS will help the share price.
GF has said 1 year for the schedule of works at the mine. Now I'm not trying to be funny but that should be completed in 3 months at a push . It doesn't take a year to drill 1900m of holes or to dig 600m of trench or set up a processing plant ( you can buy one off the shelf from china and get it shipped here in 8 weeks) and dig 400 tonnes of sample .
Ok guys been having a look at the trades for to day and it is fairly obvious why the share price didn't go up that much. there is still a hangover from the last placing. If you look at the amount of 3m and 2.5 m sells and when they happened there are far to many of them for it to be anything else.
Bad news is I don't think they may be coming to the end soon. I know a lot of shares have been traded over the last 3 days and also just after the placing on the 7 of Aug but they are still firing them through to get rid of them from what i can work out it looks like about 1 fifth of the volume were placing shares today. I don't think we have got to the warrant shares yet and if they decide to take up the warrants that's another 346 million they will fire through.
Things will sort themselves out but it maybe a few days before the shares reflect their true value. If I am right we may see a bigger rise in the share price when it doesn't have to compete with placing shares and possibly warrants.