The options being converted early is a good thing, a show of confidence from a director nice and early well before he had to convert. It shows in my mind he can see the money will be well spent creating value through drilling. So that was a side issue.
DEV is in a trading halt now, it seems for two reasons. From the wording it seems they need to explain to the ASX why the sudden rise in the SP today. If that was a regular speeding ticket I don't know but it can certainly be explained by CPNs results (up 110 %) and DEVs proximity to that drilling.
There is also mention of Junee drilling (that is in NSW where they are drilling multiple targets Junee being one).
They have had drill cores in the labs it seems since Michael Jackson died but it might be slightly less time than that! Ha ha!
Anyway those results must be very close. There will be speculation of a leak (there always is) but in my years in Goyder companies Im yet to see a leak.
This is how it works in my mind (many will disagree with the troubled workings of my mind but entertain me one minute)..
I think Goyder has a very big following and a certain amount of trust and credence following his successes none more than CHN.
The big end of town follow what he's doing and he has a bit of a fan base of investors.
People know he's (CHN) invested owning 10% of CPN.
CPN doubled today, more than doubled on pretty specie drill cores.
A lot off money has been made at CHN, its gone from under 100M MC to 3B MC in 14 months.
LTR has 20 bagged in a couple of years too.
This gives some of those holders a large bunch of cash and a belief in Goyder.
(Most people will agree with me so far....)
So they are always looking for the next hot thing that he has touched with the Midas touch.
CPN has the Goyder blessing and it went nuts today on its own results and I believe market interest much of which will be Goyder investors or Goyder watchers.
They all know DEV is Goyder and that its just under CPN and its also drilling.
I think today rise in those stocks is largely Goyder watchers and Goyder investor jumping on the next hot things he's involved in.
Which is why the mad buying didn't flow to us (yet).
And why we need to do more promotion around our leases in the Calingiri West region.
Not everyone knows about our company yet and we don't have a celebrity Chairman/Next WA Billionaire backer as the Goyder companies do.
We should have gotten some love today from happenings in our zone.
CPNs results are really really good for us and our chances, it improves our chances as much as it improves Devexs chances.
But many of the cashed up Goyder fanboys and fangirls don't know about us or our very promising positioned leases on top of DEVEX and CPN.
These are not late pegged second choice mopping up leases we hold.
There are a couple of companies that grabbed scraps after Goyder and everyone else had pegged everything they thought good.
These are first choice leases inside CPNs and DEVs other leases, leases they would have liked to have gotten themselves that we bought from our vendor.
Early leases.
Not all leases are the same.
Ok just because they are early pegged makes no guarantees but look at the locations of our Calingiri West (and East for that matter) leases.
Top shelf.
Personally I think CPN will keep going from here and it will become more and more apparent that our SP is way undervalued for the quality of the land we have, the signs we have seen and the plan we have in place.
PUR due a correction upwards IMO.
(20min delay)