Ann: Oracle Ridge Mineral Resource Estimate Update, page-19

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choochx01

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06/10/22

23:18

Post #: 64074064
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Originally posted by BobbyKennedy ↑

Unfortunately, the recent attempted pump and resource upgrade released with the investor presentation is a strong indication that a CR is imminent.

They followed this same pattern in March. Resource update on the 10th and the stock went into TH for a raise on the 23rd.

But really the only evidence one needs to work out they need a CR is in the financials. Previous two quarters had cash burn of $8.3M and $7.6M. Cash at end of June was $11M. Probably means approx. $3.5M-$4M at end of Sep. That's not enough to get through October so they were hoping to pump the resource update to attract a better placement price but I don't see that happening now unless copper really puts on a show over the next few days.

I really like EM2 and believe it'll probably be mined in the future but it's a long and expensive road which is why Regal the have been selling like complete spanners. It's their selling pressure that's really crushing the price IMO and it will continue until they're done. No way of telling when they're done as they're now below the 5% reportable level so broker data is the only possible clue.

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They won't have any trouble finding quality long term investors to stump up coin. As with all juniors CRs are just part of the process of going from junior explorer to a mining business.

Cheers

EM2 Price at posting: 21.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 6.0¢		Change 0.000(0.00%)		Mkt cap ! $23.57M

Open	High	Low	Value	Volume
6.0¢	6.3¢	6.0¢	$24.27K	392.2K

Buyers (Bids)

No.	Vol.	Price($)
3	115032	6.0¢

Sellers (Offers)

Price($)	Vol.	No.
6.3¢	126985	1

View Market Depth

No.	Vol.	Price($)
2	106699	0.060
2	225057	0.059
2	198824	0.058
2	248888	0.057
5	388100	0.055

Price($)	Vol.	No.
0.063	126985	1
0.064	200000	1
0.065	655295	2
0.068	1100	1
0.070	1100	1

Last trade - 15.57pm 17/07/2024 (20 minute delay)

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