Ann: Sulphide Bearing Porphyry Drilled at Chanape, page-202

re: Ann: Sulphide Bearing Porphyry Drilled at... Thought it worthwhile to link back to one of the original threads after the discovery...

Still not aware of any advisories or subscription services that have covered ICG?

Perhaps they are getting themselves set first?

lol

Also interesting to see the 20/40m share cycle return over the last 2 days, as per the period prior to the spike and sell-off = very sustainable rises with plenty of time for all sides to buy and sell (mostly between each other I suspect?).

Each time about 20m shares trade, the stock takes a pause, the volumes slow and the resolve of those in for the day (temporary money) or those holding from earlier, are tested...then the process starts over fresh (can go up or down)...and another 20m or so trades.

This works best when it happens in a single day...we see a rally...test of support...then another run-through rally with a close at or near the day’s high...as per today and yesterday...and most of the days in the lead up.


It also works when you get 3 or four cycles in the one day...so 40m, 80m, 120m, etc...

Whilst results are awaited, and the stock continues to look cheap compared to the potential scale of the find...and daily moves are measured and not too over the top...ICG will probably continue to rise after each pause more often than it will fall. The exception of course is if something interferes with the process, such as the Chairman’s aggressive net selling which not only inflated the float and claimed buyers otherwise prepared to buy higher, but also flushed many who would have otherwise been happy to hold.

This is an important point...when people hold for longer and longer, during a rising share price, the more likely they are to keep holding...mostly because they end up sitting on a significant margin on their buy price.

They just need to give it time.

Nothing makes a shareholder more tolerant of swings and market games than a large margin...and before you know it, they have become long-term shareholders!

And...if they do sell, it is often only part of their holding...perhaps down to a free-carry position...this eventually results in a gradually shrinking free-float, however evidence thereof usually only appears towards the end of the initial adjustment "proof of life" flurry.

I believe we are at that point now...as such I expect volumes per point rise will begin to diminish somewhat...in the absence of changing circumstances.

Just on a side note...the activity I am seeing reminds me very much of both SFR and SIR in their initial runs...where belief, doubt and market ignorance resulted in many attempted swing trades that simply did not come off.

Apart from the obvious market interest in their respective discoveries, I suspect much of the activity in these other two was initially driven internally...by major shareholders/supporters...who would have recognised the need to raise significant funds, and importance of doing so at significantly higher levels if they were to avoid undue dilution.

This is the difference between a run generated purely to facilitate profits, and/or a net exit from placement recipients and/or larger holders...versus a major run designed to both fund, and indeed increase the viability of a real project.

Exactly how high this will go prior to results is anyone's guess...and I stand by my initial prognosis that 20c+ should be a cakewalk pre results....but how much higher might just depend on the nature of those interested, how deep their pockets are, how long assay results might take...and their understanding of what they are likely to be.

If I am right, and major shareholders are at least partly behind the rally, one might understand just how pissed both management and indeed the "long standing shareholders" might have been at the Chairman taking advantage of their efforts by dumping into the market and setting off a major fall.

What should have been a correction from 16.5c to 13.5c/14c odd...turned into a rout and subsequent fall to sub 10c levels.

If anything, the recovery from this hiccup further underlines the consistent strength here.

I have little doubt this is being set up in every way for a major run over time...both prior and, all going well, after results.

Impossible to know what sort of numbers we will be looking at down the track...but if results are good, and subsequent drilling adds some serious scale...we can comfortably put a $ sign in front of it.

Even the majors would be excited about a discovery like this could turn out.

Cheers!