I'm a bit surprised the share price didnt do more on Friday. I guess everyone is waiting for flow test results for the share price to really go for it.
At some point these reserves become "proven", and I'm not sure when that is - is it after the flow tests? is it after an independent verifier comes in again to do more analysis and confirm as "proven"? I'm not sure. Welcome any feedback on that.
As for the fair share price prediction, using the 1/3rd rule I have posted about in recent past here on Hot Copper, I upgraded the Amistad reserves by crudely tripling them based on the news yesterday of the net pay region in the upper sections being so much larger, and it's altered my opinion of a fair share price.
Previously, I was landing on about $0.85 AUD. Now I think it is closer to $1.05.
My personal gut feel has always been that it should go to above $1, so this confirms (my bias) lol.
GLTAH.
#I will not sell a single share below $1.
Ann: Block 9 Alameda 2 Increase in Net Pay, page-342
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