@tbirdsrgo ...
There is lots and lots to discuss about this stock!! Hundreds of drill holes and you think people should not discuss it warts and all, LOL. What is a head in the sand approach better??
Why is the SP going down in an overall bullish market?? What are people that are nothing but bullish missing?? Because being entirely bullish means your missing something when the SP is going down.
Why did the market NOT respond to the last bullish announcement?? I've already given the answer to this, but some of you think I'm wrong, which means you think the market is wrong..
This mob have been drilling the same area for over 5 years now. They have put hundreds of holes into the ground and come up with nothing substantial. The methodology is clearly not working!!
After 5 years, they decide to look at gravity anomalies, that's a Hail Mary. If they really thought gravity anomalism was important, they would have used it well over 4 years ago. The other alternative is they don't know what they are doing and just thought of it!!
Other juniors I've invested in have dug a quarter of the holes and either found something substantial or moved on to something else. This mob have drilled multiple holes into the same small pods of mineralisation on several occasions, without adding to overall knowledge, but did manage to show some nice photos of drill cores in announcements.
They drill diamond holes all over the place instead of much better value for money RC drilling most of the time. Sure use some diamond drilling, but do most of the drilling with RC, shareholders get twice the quantity of drilling done for dollars spent.
What about wedge holes for looking at close small EM conductors?? Nah, lets drill an entirely new hole costing huge sums to prove what is already known instead, it was a small pod of mineralisation.
None of the other pods found are continuous at all. They all reside in this one ultramafic 'seam' that is angled towards the North-West going deeper into the earth. So far all drilling has proved that they are indeed separate individual pods. As soon as they drill away from, or miss the EM conductors the holes are dusters, like MAD189.
MAD189 was a duster and didn't show any high grade EM conductors around it, yet the company has the gaul to state that mineralisation might be continuous between MAD199 and MAD201, when the history of drilling shows only small pods of good mineralisation spread out over kilometers.
Watch how they don't bother drilling halfway between MAD199 and MAD201 as without any EM conductors, that would prove mineralisation is NOT continuous. I get appalled at company announcements of great hope when they should know better, then we get a whole lot of posters showing equally ignorant bullishness, all while the market is clearly stating something different.
None of the stocks I've been bearish about are going up in price, they are all going down for a very good reason that the bullishness shown by company announcements and a lot of posters doesn't match the reality of the situation.
Good luck to you investing in the penny end of the market, I've been doing it for decades, but as time goes by you have to know when to hold them and when to fold them. Holding losers is a mugs game, based on 'hope'. Juniors that are having success and the SP responds appropriately by going up is the way to play the penny end. This mob could be searching for the next 10 years and not find anything substantial, because there is no certainty that anything substantial exists in this area, and even if there is, it might be 3000m deep and useless because it's too deep to mine.
Where is your uncle point to get out because they haven't found anything?? At what point do you admit failure in this (or any) investment? Do you hold when the SOI goes to 2B or 3B, another 100 or 200 holes, or when/if the company gives up?? Will you still be bullish at 5c or 3c or 1c/sh??
Being critical saves your investment dollars, juniors with good prospects are a dime a dozen. Do your research thoroughly, so you don't get caught in things going down based on blind faith, look at Mcap compared to what a company has. When things go down and your bullish it tells you either you or the market is incorrect. 99% of the time it is the investor incorrect, we should all listen to what the market is saying, that's what the odds favour.
Why should people just listen to those that have been bullish the whole time and losing money the whole time, like
@SandyC ? Probably because it's nice to be soothed by someone sounding knowledgeable when the SP is going against you.
Those that have been accurate about the SP declining associated with lots of reasons should be put on ignore, especially those that can predict a P & D and tell other investors about it before hand. I even stated that I would be selling as soon as the announcement was released.
Somehow the share price here is going down in a market that is in run away bullish mode both for mining/exploration stocks and in general overall. This is going DOWN in that highly bullish market, what happens when the overall market turns??
There are some dreadful stocks currently going up with the overall trend, but here the trend is the opposite. The market clearly doesn't think much of what is going on here!!
I think it's funny how some of you are upset that my last trade here was successful (and overall I'm well up on SGQ) because I predicted a pump and dump and acted upon it. The whole time I was negative to the overall future of the stock, but buying low before a pump into an announcement has proved the only way to make money here over the last few years, then selling when the 'good' news and lovely photos of massive sulphides have been shown. The only people that have made money here are those trading it.
I get very suspicious about those that want to discuss other posters and there 'motives' and not the stock itself. I've put up more links to parts of announcements, facts about what has and hasn't been found, where drill holes are, especially at depth than any other poster here, yet you and others don't want to discuss actual facts!! Why not??
Sorry for the long rambling post, I'm in Victoria in lockdown...
(20min delay)