FFX 0.00% 20.0¢ firefinch limited

Current SP and any other thoughts, page-7564

  1. 408 Posts.
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    The trading at the moment actually appears very positive. There was a Gap at 14c from the announcement on 31st Aug for "Mali Lithium to acquire Morila Gold Mine to become producer", the price shot up. This gap really needed to be filled for future massive next leg up and strengthened stability in share price, it was filled 2 days ago.
    This is trading within range of channels, likely next news of gold drilling results due in a 3 weeks will shoot this to test new year highs, offering the kind of stability the Firefinch deserves.
    Punters will be buying up on every gold hit announcement, am expecting a flood of these over next 4 months.
    The drilling campaigns will be EPIC - They have their own lab on site, so rapid turnaround. Capital drilling have shown great support, a team that has historically operated in the local region. Each region drilled will likely be done very economically and surprisingly quickly. Total campaign from drilling announce to assay results could be 4 weeks per location for 10000m RC and a few diamond drills. Bear in mind the first Tranche of money was received a few weeks ago, drilling on our tenements would be well underway.
    Am expecting the 1.3Moz of Au to be smashed with the new massive drilling campaign, they will likely go in very hard and fast.
    The knock on effect of proving up tenements and adding the dirt to the tailing is obviously hugely beneficial, raising the production from proposed USD$17m to multiples. We know historically that our JV with Randgold over 6 months earned approx $5m which was 4% of Randgold total profit, assuming profit was about $100m. Reckon the $150m pa to $200m pa marker would be a lowest earnings once running. Give it 6 months.
    Then there is the real gold left in and around the main morila pit. Also new finds are likely to spike the stock over next few months.
    People selling now would be due to up coming election uncertainty and small dip in gold price, also few still balancing their portfolios lessening risk after raise.
    The most interesting piece of news I am waiting for is the new share register. At this point in time we do not know what the top 20 hold. RSG will hold a huge amount. Its likely that all top 20 dipped in, obviously some of the current T20 will no longer hold enough to keep their positions. New players yet to be announced. Traditionally the top 20 have been about 37% of all SOI. Could it be that the top 20 would likely be nearer 50% or 60% SOI. Purely based on calculations this would add a tremendous amount of stability and security to the price action, strengthening it no end.
    Once all the initial uncertainty is out the way, few drill campaigns under the belt, increased production, maintenance done, de-watering of Morila well under way, and cash in the bank, road map for the project complete, this will rocket to $1 - reckon by March.



 
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