I also think Barron there are a few like myself that went in...

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Spekulator

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13/11/20

10:42

Post #: 48848624
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Originally posted by Red Baron ↑

Unfortunately we will be under considerable selling pressure for some time to come. That's the downside to raising so much money.
I see 4 different groups of investors:

The 1st are long time holders (bought BGS) from the early gold days. I wasn't invested in those days, from what I've read it wasn't nice. These investors would be willing to sell below 16c to either make a profit or reduce their loss.

The 2nd are the Investors who bought for the lithium (bought MLL). While our Lithium is on the back burner, many of these wanted a lithium investment not gold, so may sell out to reinvest in that sector.

The 3rd, are the soph's etc who participated in the recent cap raisings. Many of these will just want to turn a quick profit & would sell for 16.5c or above.

The 4th, strategic & long term investors. They'll hold tight while they can see value.

In the mean time, we're producing approx 3,100 oz per month for our 80% share, thats US$4.6m (A$6.3m) revenue per month @ US$1850 oz
(470k pm @ .48g/t x 54% recovery x 80% / 31.1 = 3,137 oz ) profit of course is less, about US$850 x 3100 = US$2.6m including tax we've got credits for.

And our production is only going to increase with the higher grades from the satellites

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I also think Barron there are a few like myself that went in heavy to the SPP expecting a scale back that didn’t happen and now are holding a few more than anticipated and maybe wanting to free up cash.

FFX Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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I also think Barron there are a few like myself that went in...

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