Member Info for Skippysb01

You have to be careful with interpretting the messaging. This does not mean assay results. When they previously drilled Red Setter at shallower depths they said the results were very positive. Go take a look as the grades in the RNS and what happened to the SP. The grades were not economic. Positive in that context meant worthy of more investigation. It's a big bridge from one deeper drill and its associated assays to a profitable mine. The assays will need to be exceptional.

I expect we haven't seen the trades registered yet. They will come though as late reported at some point soon.

There are mechanisms to forward sell shares. The easiest way is to sell shares that you or someone else already holds. As long as you can guarantee you will be able to settle its legal.

e.g a holder can also be a placee. If I have a million shares and then I become a placee but I know I don't receive an extra million shares until the settlement date I can sell the shares I own at the market value now knowing that I'm getting another million shares for 1.3p later.

Forward selling often causes a swift decline in the SP because it adds a lot of liquidity quickly but the margins are worth it.

Hasiba - what about the SP yesterday?

I think you need to understand how this works from the placees perspective. They get a guarantee that they will be give a number of shares at 1.3. The current sp when that happened was in the 1.6-1.7 range. They forward sell the shares at the current market price.

So from the placees perspective there was zero risk. It isnt about investing long term to see what happens to WSBN in the longer term. They are unlikely to be concerned about the assay results or anything else.

The placees know no more about the prospects at Red Setter than we do. Even the WSBN BOD doesnt know what is in those assays.

Unfortunately we have to accept that placees will forward sell the fundraise more or less every time. It's what they do. Why wait to see what happens when you can sell shares you are getting for 1.3 for more than 1,3. Placees are not that interested in the fortunes of the company. Is is completely legal.

So the sell off yesterday afternoon now seems obvious forward selling in hindsight.

The good news is that if the assays are good this provides a stronger position from which to realise the resource. So hang on to you best brown pants and be risk aware that the assays will land soon and nobody knows what they are going to be like.

You have to accept that WSBN are waiting for assays as much as we are. All speculation until they get those lab results.

Today's placing makes sense to me. WSBN will now that the first set of assay result is likely any day now (6-8 weeks likely). So you raise funds before you know the answer because if you wait until after - if the assays are not good then the fund raising is much much harder and the BOD have a duty to keep the company going regardless of the results. They are not doing this to p you off.

Waiting nearly over. IMHO - understand the risk.

It's a fairly standard legal/accounting assumption. Every Interim Report must consider this and state anything that might prevent the company operating in its current form for the next 12 months. So for a small mining company funds and moving to production on the assets discovered is obvious.

In AIM you should consider that every mining co is operating on this basis. It's neutral from a value perspective. IMHO.

How many drills do you think would be needed to confirm the size of an object underground? It isnt 2.

There will not be anything of interest as far as the SP is concerned in the interims. WSBN is not a producing company so there will not be any interesting additional details about revenue being generated. Interim results look backwards. They will comment on prospects but no new meaningful data.

We have to wait for assays results.

They did not say the assay testing had been expedited. They said sending the assays to the lab was expedited. Big difference.

There were discussions on this board about the assays going to ALS labs and how those labs have a faster turn around and different options for quick review of the assays. All made up although I think people were thinking it through in good faith rather than trying to mislead.

Ultimately the assays were always going to take 6-8 weeks or as seems more likely based on the last update - 8+ weeks. Admittedly the lab could still surprise and that RNS could drop at any time.

As for the BOD. Well as with all these gold exploration companies they are terrible until they are not. I wouldn't trust them one little bit. They don't have great form and would talk positively about fossilised turds. Talk is cheap in this market. Results are everything. If they devalue bonanza gold grades tomorrow then we will declare them the best BOD since the last time someone found a huge gold asset.

Just wait but for me it's a case of don't bet your house. The odds are actually still against a commercial discovery even thought the odds are probably better than they have ever been for WSBN.

It is a trading share for now. Yesterday's RNS was great but no actual assay data and pretty well indicated assays are not imminent but in the coming weeks.

So rolling into the weekend and no expectation of news on Monday we shouldn't be surprised if it falls a bit today. Buying opportunity.

Lets hope they provided the best quality biscuits at the AGM.

NTVO released the results of the last AGM in RNS at 15:32 same day. So expect an RNS at 15:30ish again this time.

Do you actually know that?

They did kind of mention it but they still had a go of including it in the forward projections at the same time. So it was very unclear. They should have excluded sales from the Tempus deal and stated specifically that they had done so and why. IMHO

Ah. I thought you meant the one at 2:44pm for 457k shares at 1.4p, I see it on the Goole Finance chart.

That 1.4 trade is likely just a late reported trade. It's a big one so likely took some time to achieve. Nothing to do with MM's holding anything back and completely within the rules. It might not even be from today. MM's are not responsible for registering the trades on the exchange.

What do you mean 'they messed up...'?

What would we do without you. Like Mystic Meg.