GW1 0.00% 4.2¢ greenwing resources ltd

Disappointing back to back ANN's, page-17

  1. 29 Posts.
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    My take on the BSM situation, happy to be corrected;

    General
    - This is a terrible name for a thread, possibly shows little understanding of the announcements and should be edited or removed. Should be "back to back announcements stating all is good at BSM and your investments are safe".

    Bass Metals Progresses to Completion of Stage 1.
    - This announcement may seem bland by I believe there are a few reasons behind it.
    - As members of the forum (bluebottle?something and I am sure many others) have already stated they have been harassing management left write and centre about updates on stage 1 (impatience caused by the previous delays). I think they some how believed management would be keen to reply to them and only them with market sensitive information on the progress of the plant.... Therefor they probably felt pressured to release something.
    - They got some snappy pictures of the equipment arriving, keen to get them on social media and therefore into the public eye to get the interest going and prove they are continuing to de-risk our investment. Therefore they needed to get an announcement out (twitter cant be the only forum for company updates...).
    - They have continuously stated a March completion date, they have released an announcement the week before March to say everything is on scheduled and looking good and some of you think this a bad thing??? Would you have preferred radio silence for the next few weeks?  

    Successful Auger results from Andapa warrants further review.
    - This announcement is being interpreted incorrectly by some of you guys.
    - These are the results of a maiden sampling program. This was a super budget (good decision re:budget... debt free) sampling program to see if it worth drilling deeper and actually exploring the resource.
    - The result of it was yes its worth drilling deeper and we take this as a bad thing?
    - I think some of you where clearing expecting this announcement to confirm they have a resource to supply the 40,000tpa+ capacity at stage 3. This was never going to happen.
    - What it states instead is that there is potential at Andapa and when they have the free cash flow from stage 1 (6000tpa) and stage 2 (20000tpa) they can go and find resources required to supply the stage 3 plant.
    - This may be at deeper depth and in a different location but they now have clearer picture of where to spend the money when they have it.

    How these two announcements have driven the share price down so much I don't understand. I think maybe slightly better communication and wording of the announcements by the company would have had a different effect. For now its a buy opportunity (hate this classic pumping statement but i think i have offered enough explanation to back it). Maybe some people are selling profit because its 3-4 weeks until any further news (production start, flake size, production efficiency) and they will creep back in closer to the time?

    My question is what are the estimates of the sort of tpa can we get out of Graphmada and then Graphmada and Mahefedok?

 
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