Block seller had a few days off now too......looking good here, don't think we're going to see that 22.5p anymore.......
* really not far away could still be 2-3weeks so definitely not calling it imminently
Mainly use the daily but got to switch down to the 4hr too. IMO the RSI's trying but not there quite yet. Not sure what you're seeing on the MACD but the blue's below the red on mine still so no break yet. Not familiar with CCI or AO so can't comment, I do like the ultimate oscillator, but again not quite there yet. Little more time needed for wave 5 to complete down I reckon but really not far away
@ 23.39p don't believe the mm's!! It's right around that 76.4% fib retracement ~22.5p........I'm counting a pretty clear 5 waves down, just waiting to see some RSI divergence and it's game on for 3 waves back up to test 40+p imo, pain's nearly over!
Lol I never left ATGs, did go in waay too heavy here a little while ago but cut back when I realised the time frames required to get the junior assets moving forward significantly. Still got my core holding I'll be cashing in on buy out day probably years from now but they're proper bottom drawer given the progress speed. Looking to start loading up seriously again soon though from a technical view, it is getting too cheap now. Personally aiming for topups around 22p which is the 76.4% retrace from our move last year. MMs seem to want to keep testing this down and bore people out, happy to wait and see how cheap I can get a load Looking forward to more chad gold trenching analysis/drill news + some juicy lithium updates soon. As always though, the long game is THE game here imo
I understand the frustration when we've only dropped on seemingly good news recently but read between the lines a little guys - the BOD thought they'd found lots of gold+lithium across our African assets, the recent results have shown there is definitely resources there but........ The results also essentially said 'more time needed to prove how much resources we have' and that's why the negative reaction to it - the market hates waiting and unfortunately we need to wait. I really don't think there's anything nasty behind the curtain Ladysula, Assore+Sumitomo wouldn't be happily sticking in £millions @ 35p if there were. We're just an early stage resource company and these green field exploration programs take a little time to progress to the point the market takes them seriously - typically the stage 2 drill results would start seeing the really serious movement happen imo. If you can stay patient then I think you'll be looking back in a year and laughing at your worries now, short term though no idea where the mm's will take us!!
Volumes coming in, it'll bounce just fine..........just MM games wanting to print 26p. I'm betting that's the bottom today
Today...............
Sounds like a good plan Mike. Not worth getting depressed over, go to bed, wake up in 2years when we're �3+ and call yourself a genius The long game is THE Game here, short term they'll take it where they like. Fcuk 'em long and strong!
No worries mike :), and for the record I had a relatively huge holding for that rise, sliced a bit as it rose, added back on some dips but cut a load around 42p when we failed to make 50p and just kept a decent core holding. Have been adding since the 35p placing but got a little ahead myself holding quite as much as I had been recently when the chart isn't as perfect as last time yet - I'm certainly no pro, learning all the time and thought risking almost my whole account on a inperfect setup was probably a bad move, regardless of how solid the company looks. I don't want to speak for them but, from what I know the serious large PI holders (Farq, Toro etc) are not trading this at all and are just holding with a long term view to see the full value delivered. They are exceptionally well researched and very content holding crazy amounts of equity here, I'm just a tiddler in comparison and trying to trade a little to build a bigger stake because.......greed I guess! Assore, Sumitomo and DGR have all been putting �Millions in recently at a higher price - I'm very confidant saying no large holder is selling any time soon.
Hi Mike, Yup like you've probably seen there was no single piece of news that kicked off the rise in the spring and there probably won't be a single piece of news that kicks off the next one. A picture was being painted in the months and weeks in the run up to it; lots of great little advancements that were largely ignored by the market in the moment, all helping our chart to make the strongest possible technical pattern, pressure built and off she went. Nothing goes up or down in a straight line, we over performed to the upside with everyone rushing in to the rise and then had a 'bordem' slow retrace when traders realised the excitement was over and gradually they sold. If you check my posting history around the time I was the only one on here that called the temporary top. I say temporary top because IMO our chart hasn't put any of the big warning signs of a long term top in - put us side by side with PREM or UKOG charts and compare how our peak and retrace played out and you should see some subtle but significant differences. So when's our next moon shoot going to start?? No idea!! But I imagine it will play out similar to the last, we'll start getting lots of drill updates from the many many sites we're working on, the really good ones will cause little spikes and retraces as they come in, our chart will build a new picture and probably randomly one day, for no one reason at all, you'll wake up and we'll be 70p+. It'll over perform to the upside, we'll retrace again and start the process all over. We do of course have potential news pieces that would cause an explosive reaction by themselves - another major miner/ii wanting to take a large stake for example, say they wanted a 5-10% piece of IRR, where are those shares going to come from?? = significantly higher prices :) Remember though, we're only just starting to mobilise the drills in country, it will take some time to get them turning and the samples analysed. I see no reason at all for us to drop below our current trading range, but I also don't think we're about to rise significantly out of it just yet. Like I said below, I think we have a couple of months before much happens. I have been wrong plenty of times before though so please don't take this as any form of advice, it's all just my opinion.
Have no fear guys, the SP will react extremely explosively because of the low free float just as it did back in the spring, it just needs the right piece of news to trigger it. All the great updates we've had recently have essentially been very minor results simply confirming what the Geo's already knew was there. The big blow-the-doors-off news comes when the drill results come in that start defining the resource size/grade much much more accurately than trench samples. This will take a little time but it will come as we have back-ups for our back-ups for our back-ups that are all getting the geologists salivating! Drop the big RNS's with definite phat drill results, the volume will come and having a tiny free float will be like trying to connect a garden hosepipe to a fire hydrant - it'll blow the bloody doors off!! Definitely a positive thing have a low free float, any other suggestion is crazy talk!!
I might get some stick for this post but this board prides itself on the most open and honest discussion on LSE so here goes...... I'm guilty of slimming down my position the last week or so. But I was holding 85%+ of my PF here, I'm now at ~50% and not selling anymore so still an extremely significant hold for me. My personal reasons for TEMPORARILY cutting a little is a combination of the time frames required for our upcoming drill programs across the junior assets - it's going to be a couple of months before results are in and provide an obvious catalyst for the next move. I was happy holding so much because I thought there were going to be other hidden catalysts to kick off a rise, Stu selling his options to Assore was an indicator to me that there *probably* isn't anything huge behind the curtain about to be dropped or he'd have just held them. So, right or wrong I'm chasing rainbows for a couple of months. I wasn't expecting the recent lithium results though so wtfdik! I don't think IRR is overvalued at this mcap in the slightest, what we know they definitely have at Gabon and Monogorilby easily justify the current mcap, everything else is the cream. The downside risk from here is incredibly slim; we've got tons of cash, monster assets, intelligent experienced BOD and in a general commodity bull market. So I may well have sliced at the bottom of our range but I'm comfortable with my decision and the amount I'm going to be holding until the very end of the IRR story. I will be looking to add it all back in again if my rainbows deliver some gold, I just lost a little patience when so much of my PF was tied up. Completely agree with Toro's post below, there is nothing on AIM that can compare to IRR and I view the probability of us being significantly higher than 30p in under a year, let alone 3-5yrs, to be as near a certainy as it gets in this game. GLA :)
I saw it mentioned somewhere that the MM's use those pieces of news to mess around with the SP, if there's not a flood of buying on an RNS they put pressure on by printing a load of sells to see if they can spook some shares free, looks like it worked well if they did!!.......bounced from where it should though and will hopefully recover more over the next sessions
bonker99 .com/SharePicks
He's still here Mike, takes more than a little shake to get rid of him...... *********************SharePicks
Hi Mike, think we're all a little frustrated at the reaction to today's very positive update but remember these are only trenching results, not deep diamond drill numbers. All they've done is dig a long, very shallow trench and shipped all the dirt off to be analysed and found quite significant amounts of gold in it - 1.2km strike length with 10-15g/m! They also found a 4km x 2km gold anomalous zone along strike highlighting huge further potential to the site. Take a look at the company presentation for Echbara and you'll see this was the site with some of the lowest prospects for finding commercial gold, and it looks very much like they will come through on this one. The 'worst' one........How many other licences are there?! Next step is to get some drills turning and start seeing what's under the surface a bit more, should be hearing what their program is very shortly. Takes a little time to build a giant but she's definitely making all the right moves, patience is all that's required on our end
It has got that feeling about it atm Farq, lots of interest at these daft levels. Could easily be mid-40's end of next week imo
Updates will come when they're ready but rest assured there's plenty going on behind the scenes - You don't create a company with a world class BOD+Geologists, give them dozens of enormous licences, fill up their war chest and then watch them do nothing with it, especially when your people are also sat on the board. May Queen is really big so if the BOD have decided to put it on the back burner it must be for something even more significant in Africa. All will be revealed IMO
450,000 shares issued after conversion of the first tranche of Performance Rights issued to the four key executives of Tekton........just a little incentive bonus to Tekton management for delivering, got to assume they're locked in just like the other 9million they hold