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Lorna always does interviews same day as RNS. They usually appear early afternoon.
They had enough for 3 months working capital AFTER drilling Itumbula from the last raise. This INCLUDES full funding of the well.
Considering it’s all gone so smoothly this well I expect they haven’t spent as much as they thought.
Market is still processing the news. I got some more at 2.4p and it took about 20 attempts to buy on HL. For once it really was NT to buy!
The market cap will re-rate. Volatility will be at an entirely new level of SP.
I think you are going to get back to profit GG. Just a hunch……
I think we get £200m market cap on this. The RNS is about as good as we could have hoped for. This is the end of the beginning.
If it’s a clear discovery I would start at 200m market cap. They can’t declare a discovery without independent lab results which is + 2 months so it will be volatile even if they state it’s a preliminary discovery. So much depends on the details in the RNS.
Even if Lorna has literally filled a boing 747 with Helium and it floats away to the moon they cannot state it's confirmed without independent verification. So they are forced to use words like 'positive'.
Everyone knows this. It was massively de risked by the last RNS but everyone knows it isnt a done thing. Some of us are invested because of the potential, which is now more likely than ever. High risk, massive potential reward.
They cannot say it is confirmed without independent lab verification. Surely everyone knows that?
Why not have a strategy to buy both before and after the results. A smaller amount before and keep more powder dry for another day. Never understood the binary nature of these message boards.
Nope. Have seen forward selling on this before and nothing like that happening. Its just profit taking off the back of stellar sp increases and de risking going into results. On the other side we have traders coming in ahead of results.
There is massive interest in this share.
No news is no news. However agree with those that have cautioned an earlier RNS. They will likely have moved beyond wire line testing by now so that's good. What we didnt want was an RNS about poor hole conditions or poor wire line outcomes.
You 'feel' this?
Herbie. She certainly did not seem confident when they were dealing with the last placement. I think you are misreading that entirely.
Sometimes I wish it was NT to post.
Google just shows the last reported trade which in this case after 4:30 is the last late reported trade. If its 2.24 it likely from the spike this morning. Might see it on the LSE list about 15 mins after it registers on google.
Lovelife - can see about 80m shares bought in 8 trades before 8:08 am. Thats the trades we can see. Probably these late reported trades (there are more to come through) were also around that time.
It was very deliberate. Why would you pay over 2p when you could have got them for 1.5 by just spreading the trades through the day?
It took 8 reported trades to move this up to 2.4p this morning. someone wanted this to rocket this morning and they had the funds to make it happen. A lot of profit made on that today. Nothing to do with mm's.
It can happen again.
With our drill and it's brand new rough neck I'm surprised we haven't done it already!
Its really not a great idea to invest 'everything'