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Nice post @clueloss....
Let's hope that the tick ups realise the "jest" in such a post ... ;-)
Hi again Lethal :-)
I have been watching this for a while tbh.
I had a small 240k shares here at late 6s some time back. I have to admit I very rarely trade. But did sell at 11s, as had a feeling the Mgmt here were being a bit "opaque" back then....
Then watched it climb to 14s, and assumed it was about to take off, and that I was wrong. But see now it's at 8s ?
Hard to know what to make of it. Gold in the current env, if efficiently mined out should be in a strong position one has to say. The slightly dubious location notwithstanding. Yet this hasn't really sustained its previous momentum for whatever reason...
It's still of interest to me. After all having held 7.7 M GGP @3.58 I can see where gold fever can take a share, that overblown 38p etc ;-)...
But equally, & as with that share. It can fall a long long way on the unwary if over bought ( in that case), or not quite as it's projected (here perhaps?).
I am sure the wise on here can confirm if it's got legs again & despite the falls? But much more drop and I may invest again here in the current macro climate perhaps?
Cheers.
Thanks to people for the views.
I sum it up as:
Is mid 3s likely to be an excellent add price longish term... Yes agree - more or less why I had been buying in 4s then 3s, then 4s again, as per my overall average. Tick there.
Is ACP going to be immune to the usual AIM sell on news crowd...... Nope IMO. Desperate market times will make the 15%ers even more prevelant I have no doubt. So it's quite possible IMO that this will go up and down. Even with decent news, and there will be chance to add even if news starts to flow.
So the above is why I have a little pause for thought as I look also at the general market weakness, plus other equally tempting options.... I don't doubt or disagree with those that see this with excellent potential several years on. But as Lethal says, and its well bourne out all over. Day traders will have their pound of flesh. No share is immune.
Still thinking on it thus, as tbf every BB will tell you they are way undervalued, and the price manipulated, blah blah. It's not got to that quite yet here. But it will I don't doubt.
Cheers for the inputs. If anyone knew for sure they wouldn't be in penny shares, but rather on the beach I guess.... ;-)
Open question. How much is worth tieing up in a share like this, given its known Comms issues?
I know the likes of Wasa will buy very large and probably continue to do so. As I saw the pattern talking to him on HZM etc.
But with all due respect to his analysis. He is clearly an exception on AIM generally.
Personally I am at a little crossroads on this one. I have built, for me a mid sized holding of 4.283 M at, & when I started to buy, what I would have seen as a decent average of 4.15p.
But I am currently leaving it there for now to see how things pan out a while.... On the plus side, seems to me to be a great resourse, that will likely be in strong demand. The logistics of extraction technically don't seem too bad at all. The company has strong executive buy in etc, & that's encouraging of course.
But against that. It's not in the greatest locale, it churns real slow at very best therfore....this is the traders delight that is AIM, the flow of updates is pretty nonexistent, and we are entering a general Bear situation both stock and world wide that will have some impact you have to acknowledge...
It's a tough one. As alongside a very few others I still see this as a very likely runner. But that's the question I guess. When does prudence overturn optimism etc...
Just be interested in views. I am very tempted still, now this is again in mid 3s to further add & average down....
However, for now my market suspicions are winning out... I guess a few others in same boat.
Do I have this one right or wrong... ;-)
Cheers.
In any other walk of life, a top senior spending a paltry £11k on shares in a company they are heavily engaged with would be in receipt of a tongue in cheek comment along the lines of the fact he had a few quid left from a fine dinner he had the other night ;-)
I just assumed that the first posts on it were just that. Mild amusement.
But the way bb's are it seems incredulously £11k is a major signal...... Or made to be by some...and in fact it's not treated as the regulatory briefing he has to put out and nowt more....
There are some desperate types that post on these boards sadly. Which is why you should never take anyone at face value.
This will do well, but really, there are quite a few of us that own in excess of TB's whole holding. So what?
Everything Troaj says seems about right as usual, I would say ..
The only thing I don't do is pull money out as cash. Maybe I should....!?
What I have been considering though is selling off for now a few other shares, where I think the benefits should be longer term... E.g ones that even if all goes well won't deliver till (say) 2025+ odd.
& Then putting more then into potentially faster turnarounds, now at very low prices, like here, and a.n. others I hold, & that could bounce quicker I feel.
I am only musing on it, as the danger of that is of course chasing money around you are semi panicked into it, and will possibly make the wrong calls...
It's very tricky. As I think later buying back into my longer term shares will cost a lot more as well.
For now I hold a decent chunk here (925k) tbh. Would like a few more. But if not so be it.
At risk of boring even myself ..... I wanna see the Cu salable volumes for the next 5 months. I think there is a good chance they can deliver some strong numbers. If not .. then I will re-evaluate.
The s**t SP is what it is agreed. But to me it's largely that the world isnt doing well as we all know. If all my other shares were rosey and this pants .... Different story. But everything is down. So I give the SP more rope ....
Cheers.
Hi Apro.
For me, by my self imposed review point. So end of Q3.
I want to see the production of saleable copper month on month sustained for several months at the promised levels to hit the target endgame that they have committed to the market.
Making strong profit strides as a result alongside that & light of the current Cu price.
I think that they have the opportunity now, with the next 5 months - May to September, to report the above & that will give everyone confidence it can and is being done
To-date it's not happened (for some understandable reasons maybe). But it needs to start, and start directly.
Just my opinion.
Regards.
Hi Lethal.
For my sins, I still like the resource here. Still see the turnaround job as a work in progress, & that even if two forward & one back sonetimes ... That it's gradually getting there.
So still intend to hold here, all being equal for the management to prove itself further by my review deadline as stated.
The only thing that's changed for me is (and like all reasnoble people one would hope).... A fear that the macro economic issues that are way outside of this CEOs influence .... Will have more than a usual say?
But anyhow. That's always a risk, above and beyond the usual company ones. So I don't dwell on that side, as he or I can't influence it. But it is in the back of everyone's minds if they are honest...
Just my thoughts.
Good luck.
Sorry, typo... "What was going on on Tuesday on this BB"...
@Rhodi
This share really needs something concrete to move the price up sustainably we all agree. It would be great if one of these prospects finally does that. But the posting technigue yesterday from one individual was either very very wishful thinking...... Or cynical multiple attempts (19 posts in a day.....!) by a frankly known trader with history... to simply PnD the new or inexperienced here.
Everyone can decide which....But if you have been around this one a good length of time you have seen it before and frankly it rankles...
WSG has his own views. That's up to him. But that is separate from what what was going on for most of Monday on this BB tbh...
19 posts in a single day by a returned & and well known ramping trader.... Just check his history.... Anyone post that my h that's not a day trade..... Emmmm think not!
Most of the posts on here today are A1 exhibits of why you should never take on face value anyone's "opinions".
This latest metal find is highlighted, even by the always opaque DP, as highly speculative, and in no way yet worthy of a JORC....
But to those buying now at 0.47p matters not if even marginally viable, and even if years away to dig out ..... It's a simple PnD to a 30% smash, grab n run.... Been here a while.... We know the routine chum.
Do these people think that some of us have the recall of a goldfish, or just got off the boat?
It would be laughable if it wasn't so pathetic...
Some seem to think that this share is an Island ?
Have some people not seen the rest of the market today....
There is a real bear feel about for numerous reasons, we all should be aware of. None of them in RMM direct control.
Add that to the fact that today's RNS is still a stepping stone one, that with the crusher issues earlier and the power outage work was never going to be the full run at it...yet...
Then too, the maybe understandably perhaps nervy will cause the price to drop, here but elsewhere too...
As a few of us have said, a few times.... let's see several months of output at the processing levels they are aiming at, and see the how much Cu they can pull out before the deep despair is needed.
That's my approach anyhow. I am not panicked at the moment. Come another full Q down the line, and macro economy withstanding.... Then, if they are still not in the right ball park of production. I think people can rightly be concerned.
Till then it's sit on hands, or add if you believe in the resourse IMO.
If you want to sell out also, that's fine. But if you do you won't be alone. As many other shares are similarly being hit today from what I can see, this isn't just an RMM thing.
Anyhow. You pays your money and takes your choice.
I am holding. But maybe I am foolish. Time will tell...
As someone succinctly commented on the ADFN BB...
"Getting there".....
But as we all knew/know.... It's not there yet. Still happy that by end of Q3 it will be in a more representative place.
In the meantime. Likely further buying ops for those under weight one suspects.
Hi @GGG.
So out of interest. What's you exit point, time wise, and or price this time?
With 750k @28.5, and having honestly said you traded out previously. You are setup very well for a 230k plus profit if it hits .6p again. Or a significant amount more (with risk), on a longer hold of course.
Conversely, if it does hit it's past high, and the likes of you, and me.... 925k @35.9. both sell, and am sure many others similarly....
Likely it will tank the price - short term at least...
My strategy though has been.... Review end of Q3. Prefer to hold for £1 plus, if it looks on the cards. Big if, but quite possible now one feels...
But, as a self confessed trader (nothing wrong in that), and assuming the next 5 months proves out well.....
What's your aim, if you don't mind me asking on behalf of the bb?
Cheers.
...it seems, with my post the other day regarding "good accumulation opportunities at just above 4p....
Seems like sellers back in now, and now high 3s are available then to buy up if required again... ;-s
What ever the arguments on potential, resourse, or lack of debt here etc.
You can't say that the CEOs strategy isn't really giving us small fry ample opportunity to get a decent foothold here.....
Can imagine though, the slightly furrowed brows of a few of the really LTHs...
Good luck to them especially. Must be a bit frustrating to say the least...
Hi Dubbs.
Was in no way having a pop at your sentiment. I agree with it, but it's been said a lot, by all of us in the last 2 years....It's just that I think you have to have some target dates or prices to assess where you are, and reckoning is coming here I feel.
I am an investor by nature. So would always try and give any CEO "enough rope".... To prove his case. But, there has to be the right feel at a given point equally...
& Yeah... Hear what you say on "just a bit more time" and it turns. Fair play, but where does it end...
My approach here is that by a couple of Qs on from here it's got to not be having only a rather moribund feel... Has to be proving it's really on track by then .. That's all I ask.
Good luck to you.
Comes a point where the ducks have been given time to reasonably align though, & all the warm words about; potential, experience, and patience have been said and re-said quite regularly....
I think it's close to delivery time for TB & team IMO.
Frankly; I want material progress on profitability and output consistency by my long set end of Q3 review date on this investment. I think giving them 7 quarters from first investment to prove the turnaround was very fair, and far more than most AIM flippers give even 5 shares cumulative time wise?
By 1/10/22 I will not be sentimental. Deliver the right upward signs and improve the share price by strong progress from these high 20 doldrums please is the ask. I am not expecting full turnaround by then....
But it has to be more than still just "patience" .... Or tbh my current 0.582 % stake in the company may be looking for another home.
Just my take, as one has to have a goal, and I set this one a considerable time back, so I intend to stick to it.
Cheers.
Long term is an interesting concept isn't it Stephan.
I once held a share (and added considerably to it) for 36 years on the main market - 1984 to 2020 ! That was mainly for the usually very strong divi's mind you, not so much the growth side.
Only in my 4th calender year on this one.... So a ways to go yet then.
The deal is hopefully allowing the mine to be built. But in the view of a few of us it's at a considerable cost in share price (for the next little time at least). The market is taking advantage of that IMO. Sometimes I wish I was a more able trader, but I am usually poor at that sadly.
There will be a few though hovering around this now that are a bit sharper in that area.... Just tba.
Still the long game here. SP falling off the Glen intra day 8.9p recent high as traders still selling out it seems.
As ever AIM is not as sentimental about any share as some here.....
Needs a little progress news to keep it above the low ball deal price it seems....
Very low volume today. MM's offering stock at below mid point to get a few buys as a result.
I am still gradually accumulating. So aware that of the 9 trades I can see, 7 are actually buys despite what LSE reports....
No MM tricks per say. They just aren't prepared to raise the Bid on these volumes for fear of the habitual seller coming back in (one assumes).
But as a result. If one is a bit patient here, there is still it seems plenty of accumulation opportunities at just over the 4pnarea & in lieu of any news...
Cheers.