Member Info for stockman00

Am i correct in thinking Peri report today ?

https://www.asx.com.au/asxpdf/20210727/pdf/44ynrwpzr193t6.pdf

so cant see....

Morninng all, away from my computer and on my phone so can see we have an RNS today and the SP rising nicely...whats the news ? new broker target in advance of next quaerterly ???

How on earth a trade that size wont start the SP moving next week i dont know. I expect the see other players start showing their hands now and Maybe of Polygon do try a hostile takeover they may think they can reach an out of court setllement and bag some cash quicker without any court costs ???

Its been great to have consolidated around £8 having peaked slightly higher on the last guidance but its clear with the IPO in sight that our friends across the pond will add some extra spice to the SP and fully expect £10 within 2-3 months when we have the next update having already experienced considerable ongoing growth it what was deemed our "quiet period".

We continue to trade on a lower multiple to our peers and im sure the next results will continue to support the forward P/E.

sorry got distracted...months

Full ask 770p being paid now and decent volume so i expect us to have some support around here before the next leg up as people digest the update and realise these arent flash in the pan numbers and that the growth is sustainable.

£10 in 2-3 not unreasonable...

Great First post !
There isnt any downside from here and the fact that the SP may remain out of kilter at times against percieved value matters not....it will simplay catch up when it can be reported following any releases from Sandfire or indeed "when " we hit resource in Kit-E etc .
NAV , cash and all the unexplored territory already covered let alone when the real value around A4 is reported.
Some work in progress still in terms of obtaining some info on both Kit-E and A4 progress :)

Who really cares about any short term movement in the SP , we are entering into a news rich period and the SP is totally underpinned with cash , investments and whats under our feet which with A4 and surrounding areas looking like a pin cushion and 4 rigs drilling non stop then the silence from Sandfire is all you need to know in terms of what lays ahead and the reluctance of Sandfire to say anything speaks volumes, albeit i do expect some news in their next quarterly but with their SP moving towards $8 there is no pressure on releasing any news now. Everyone that has been onboard here for ages and previously nursing losses should be in the money now with no concern about holding going forward having recovered their money. This is only going one way now. Silence isnt always golden , its often copper !!!! Lets sit back and watch Sandfire do our heavy lifting while the BOD carry on diligently with our own profit making investments. Drills turning and plenty going on...Oz listing , Kit-E , T3 & A4 developments, annual accounts all while copper continues its upwards path. Sandfire calculation previously at $3.16lb which looks pretty laughable now.

We already know the extent of drilling from Sat images and from the fact there has been four drills at A4 and surrounding areas from two different companies from away before Xmas ( one of which i know for sure has been finding solid grade copper) since day one so increased NSR is a given and a good time for news flow with a nice copper backwind in our sails. Short term potential catalysts :
Sandfire quarterly ( they have to show their hand soon)
Drilling commencement at KIT-E
Year end company accounts showing prudent cash management.
A nice follow up article from IC
copper motoring around $4.50 ( sandfire previously used $3.16 i believe)
Increased company PR with some meat on the bone following the above.
ASX listing
Maybe even some BOD purchases once year end closed period out of the way.
Positive news on any of the above fronts anchors the NAV and SP and we could be the start of a long overdue return to proper value.
GLA

Regarding 07.04 posting.
I dont think this is the case but heres a leftfield thought..... everyone assumes ( rightly ) that Erik took shares in stead of cash for the drilling work indicating inside knowledge of what the bore may encounter thus justifying taking share at a premium to the SP at the time. You could argue however that that action alone would cause an increase in the SP as it did creating ectra value in the share and if you saw the tidal wave of buying from Reddit and the other descending swarms then youd soon expect the value of share to be way beyond intial value. What we dont know is if any of those shares have been sold at a profit , or even if any of those shares could of been sold at the peak with an insight at what was going to prove a duff drill and even repurchased in the aftermath at a much lower price meaning cash has been banked and yet the number of shares retained. Whilst i dont think this is the case its entirely possible.

For what its worth i still think all the volume is churn from those averaging down or naked shorts working the close positions.

Until official news of any type we are all stillin the dark

Corporate action or clsong shorts ? whilst any discussions would legally have to be disclosed it does make you wonder if there was indeed a buy out potentially being discussed for certain acreage and the SP simply got ahead of itself which put a halt to discussions pending drill updates hence the climb back up from 1p. The resignation of DW and activity with Erik does indicate other things afoot driving the SP. The other physical drilling activity is dead in the water for a year with potentential dilution pending so that isnt doing anything for the SP. The only other possibility is another ramp on no foundation and a scramble to exit down and escape as there are a lot of trapped and relectant share holders with lots of money tied up. If youre playing this game dont be the last one holding the baby with a bigger loss than you had initially albeit with a lower average, This could move backwards very quickly again... be careful all and do whats suits you purpose as everyone has their own agenda / average and timescales.

Theres could still be large naked shorts being covered from highs of over 4p so different reasons to purchase than expected news or fundamentals of 88e.

There isnt anything suspiscious going on , in what is a high risk investment in high technology exploration everything isnt as straight forward as digging coal hence the risk reward profile and high likilihood of failure. There has clearly been complications with the wire logging whether weather or technicially induced the end result is the same which isnt uncommon.

I do believe the resource is there as clearly does Eric too. The reward for the next drilling campaign you could argue is less as there will be additional dilution to the share register and certainly less hype driving the SP north which has been the case now where sucess to many here now was irrelevant as the hype was simply a vehicle to make money whilst ensuring someone else was holding the baby when the music stopped.

There could be corporate actions still in play and maybe the silly inflated SP has put paid to that for now ??

Re tsome of todays large orders , tese could quite easily be brokers covering naked short positions against last weeks 4p SP, if so they are the only winners here on the massive volumes.

I think the SP will fall in the absense of any positive news and may offer a good opportunity for those with patience and the strenght of will to average down and hold until next year or maybe piggy back any positive PANR updates in the area spiking interest once again.

good luck all and to those that arent happy with their current position then think carefully to not repeat the same errors.

it may of been force meajure , 88E may of been offered the chance to delay the drill, there may not of been a contract sufficeintly covering failings etc etc....we'll never know

I wonder if brokers had naked shorts expecting this are have hoovered everything up this morning the clear orders from last week?. With the volumes across the markets and also the arbitrage they have cleaned up big time albeit the exposure would of been massive trying to cover if things had gone the other way

Just looked at the latest PANR RNS and they state that blizzards over the last few days had caused logistics issues with drilling , i wonder if the weather could of been some of the reasons for the fxckups especially considering it was now or never for this year before having to down tools ie under other circumstances would they of delayed wire logging etc. We dont know the cause of the power loss etc. Anyway the milk has been spilt for now but could well be cream next year !

Be careful anyone thinking of averaging down as whilst we may well rise from this morning bottom and some will clearly be making a quick day trade without any alternative catalyst for a rerate this will drift until the next campaign as interest waines and you may well have funds locked in for another year before you have a chance to exit having tied money up to exit without a loss / such a loss. The fat lady isnt singing as the oil hasnt gone anywhere but time and additional dilution for any new activity needs to be considered if no buyout before next season and or PANR success does lift our boat. If you wont hold this for a year then dont hold for a day.

Expecting severe action 1st thing before recovering somewhat though the day when things settle after the initial scrabble to sell and the MM's play games. I dont think we;ll drop below 1p as we have learnt more about the potential resoorce and know there is oil to be had. This isnt a duster beauses there isnt potentially commercial oil , its a duster because of technical fxckups.
With added interest in the area due to licence restrictions the game is a long way from over. Unfortunately the level of SP has no bearing on the certainty of everything going to plan and commercial oil being discovered. The contractor taking shares supports the logic and belief that we have something of interest albeit we are back in a holding pattern again.

Everybody take stock before the morning and think carefully you actions like some havent unfortunately done so far having been swept along by the tide of hype.