This is out performing even where I thought we might be at this moment and still seems to have legs.
So although I am not a great proponent of serious posts I prefer to take the piss out of whoever pops up like our resident misery guts or even myself if nobody else says anything stupid enough I will briefly give a serious post a go.
So whats going on we all wonder..quiet old DEVEX seems to have suddenly been discovered.?
Well gold prices are booming, this is a very good time to be anywhere in the gold industry from producer to explorer. Chalice (one of our main investors other stocks) has done extremely well on the back of gold discoveries on the east coast and more recently Julimar just north of Perth.
Its followers in many cases have a truckload of recent winnings and a great fondness and confidence in Tim Goyder.
(I missed CHN but rode LTR up from the 2s and still hold, albeit a reduced holding,...Im heavier in DEV).
So I think we are seeing a lot of investment from current Goyder followers into DEV on the back of his successes to date.
We also have seen management participating heavily in the recent raise at 10c. Which shows great confidence and gives us a pile of cash to drill with.
Brendans very upbeat presentation and mentions of major other company interest (major gold companies that is) certainly caught my attention and Im sure several others sat back and considered this snippet carefully.
What we are seeing here is not a pump, there has been little chat on HC for example and I make sure people know my primary reason for posting is satirical in nature. So nobody listens to half the crap we say is my point, those who think they do take themselves too seriously.
There seems to me to be constant, solid, calm accumulation going on. I watched it today the buyers seemed to buy a few, stop wait for the sell line to grow even if it took a long while and buy a few again...slow and steady. But enough that the price is growing and its pretty obvious IMO that there are so called deep pockets behind at least part of the buying. You don't hit new highs day after day without serious new buying.
We are out performing the spec sector in gold but considering our strong assets, great management, cash position and near term targets this is not surprising..to me.
Keeting would have called it the correction we had to have! ha ha! there I go Dad jokes again.
It doesn't matter if you agree with our share price or not, the market dictates we don't.
And they say the market always gets it right, eventually...
None of this guarantees drill success..nobody has X-ray vision.
But enough people seem to be buying on the back of Basin Creek that it does make you wonder what the more educated, informed and researched investors are thinking. Or are some of them buying on the back of the Julimar leases? Probably a bit of both.
I have no crystal ball and no more insight than anyone else but I am enjoying seeing DEVEX finally get some recognition through appreciating share price for the sake of our extremely hardworking management.
We are in a far stronger position than we were a year or even six months ago and its great to see the stock finally get noticed.
Thankyou Brendan, your hard work, stealth and your own fresh discoveries are finally getting some recognition.
If this share price growth continues on until we get drilling results or takes a retrace first I have no idea to be honest and it makes very little difference to me. Im not selling at this point or anywhere near this point....Im in it at least until NSW and Julimar have been thoroughly drilled.
Im not here for peanuts I'm here for the plantation! Ha ha!
Good luck to all holders, as always don't invest more than you are prepared to lose!
*Anyone with any informed theories as to where the fresh higher buying has come from, opinions welcomed.
Everyone that is, there are a lot that read DEVEX threads but not enough that posts. Some one needs to keep the bulls in line with more than just a "this is too expensive" comment.
(20min delay)