It hasn’t been fun watching this stock fall from 4c (where I bought in) to current levels. However, I have to admit the new asset seems more exciting than the previous “elephants” that ended up being dung beetles. My current thoughts are:
1) Where are the result of the diamond core drill-hole recentlycompleted at London Victoria? Ritchie mentioned in his webinar that we may get the results before year end and here we are one month later. Hopefully not a duster :/
2) From memory, he also mentioned that a share consolidation is on its way. I personally don’t see how that helps us long term shareholders given the current phase of the company (exploration with just further dilution likely)
On a positive note, the company is almost cash backed so any discovery at these levels could get a re-rate in the share price. Rate cuts by the RBA are also looking more likely in Feb so maybe investor sentiment in the junior explorers start picking up again soon. DYOR
ADD Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
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