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Disappointing back to back ANN's, page-27

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FiendishRedbeard

9,111 Posts.

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06/03/18

03:21

Post #: 31544695
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Originally posted by Loharano Lad ↑

There was nothing in today's ANN that couldn't have been said yesterday, and nothing in yesterdays ANN that couldn't have waited until today. I'm scratching my head as to why we didn't save ourselves the extra $1500 and combine them.

I did take note that the release of the nice little rehash puff piece yesterday (with a vague mention of "revalidating" drilling results) allowed some lucky holders to offload 40+mill shares at 2.4-2.6c. Some of these may have even bought back in today at 2.2c.

More likely though they will try to get them cheaper in the next few days/weeks. I had 2 hopes of a significant increase in SP in the short term. The Andapa JORC dream was shot down today, so the only hope left is sales which are still months away, if management meet their latest timelines. If todays ANN had have been better, announcing recommissioning with a couple of nice photos and a video or two on twitter would have given the SP a nice kick along. Now I believe they're impact will be negligible.

I don't know if anyone else noticed but there was a big wall of 12-13mill in the buy queue at 2.2c last week. The big order/s were pulled on Friday I believe and it came back to 5-6mill. The scepticist in me wonders, did the people who pulled their orders on Friday and dumped 40mill shares yesterday at 2.4-2.6 know something that I didn't. Knowing full well that they would be able to buy back in at a cheaper price in the days/weeks/months to come.

I must note that as all our eggs are now in one basket, for the short term at least, the possibility of a CR has significantly increased. The two options to avoid it are 1) significant increase in SP leading to options being converted, now unlikely in the next couple of months. 2) Significant sales, unlikely to be seen until the Q4 cashflow report in late July.

Someone less trusting than myself might speculate that the people who would benefit most from another CR would be management/ whoever pulled their bids on Friday and/or sold their shares yesterday.

Before anyone gets on here telling me If I don't like it sell. Not going to happen I believe in the company and the product, and I'm in too far over my head to get out now. However, sometimes it feels like management are taking the piss and I'm looking for an umbrella, and it never rains where I live these days.

GLTAH LL.

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What were you expecting from a management group that reports no official costs or timelines?....

BSM Price at posting: 2.0¢ Sentiment: Sell Disclosure: Not Held
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Disappointing back to back ANN's, page-27

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Disappointing back to back ANN's, page-27

Top Stories

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Sellers (Offers)

Featured News