AW1 (ASX) Ann: Trading Halt

Originally posted by InItEarly ↑

1. Sure, but they have since made out like the MRE was going to be bigger - which meant they had a reasonable expectation post fires that they could put more on the table. They then delay the release of the MRE, allegedly to have an impact on European markets, which built expectations far beyond what they clearly could reasonably deliver. Sell off ensues.

2. They had to go deep to get the interest from the market IMV, however they didn't capitalise on it. We are back to 10c (presumably), which is below the last CR and, if I understand their agenda correctly, this time around we will not have the excitement of going to deep. There is no apparent strategy here for how to build value in the company for shareholders. I have seen this lack of focus before in juniors that grant themselves millions of free shares so that they can make out like bandits, even if the share price ends in the toilet.

3. Not urgent from one perspective - the MRE and progression to early mine, sure. But its urgent from a share price perspective - perhaps things will pick up again but the run up hill is harder after dilution and without news that will materially interest the market. Without exploration drilling of the deep, we are a long time in this orphan phase. Thats probably fine if you're already sitting on bags.

4. I'm heard this one before and I am not buying it. What is the price of indium in the market? Kinda hard to say with any degree of certainty when only one party likely wants it. Has the US government thrown some dollars our way to get a mine going? Do they have a current stockpile and if so, how long will it take to go through that? And even then, how important is indium to the US government? Does indium even appear on the US strategic minerals list? Not last time I looked. It's all about Storm, or at least it should be. We don't need projects to give Dave and team work to do all year around. We need them to return value on our investments. Highest and best use of resources should win.

5. It should have been farmed out or JV'ed. I get that might take some time - but what have they been doing since they stopped drilling at Storm six months ago? Not meet any of the deadlines they set themself, thats for sure. We could have made a little money to perhaps avoid this dilution until they had some results again to interest the market.

I am less confident now that I have been - I had a great deal of confidence in Dave early on but he does not appear to have some of the characteristics that make a good MD. There was a superior and entirely predictable pathway over the last 12 months that we did not take for whatever reason, and we seem far poorer for it. Lets see if they can get on with digging a mine from here and not just digging a bigger hole.

Expand

100% spot on.
As far as the DSO goes.....I doubt it will ever get up with this mob.
What has happened to the ore sorting?
In a webinar, Dave said they were looking at gravity tumblers?
Have they actually put any quantity of ore through one yet?
Prior to any mining.....the current MRE area will need a lot of infill drilling to convert at least a third of the indicated and inferred to a measured resource.
No mention of when that will occur??
It seems to me as if AW1 are giving $Bay a free run for as long as possible.

No.	Vol.	Price($)
16	703049	12.0¢

No.

Vol.

Price($)

703049

12.0¢

Price($)	Vol.	No.
12.5¢	336949	8

Price($)

Vol.

No.

12.5¢

336949

No.	Vol.	Price($)
16	703049	0.120
9	679656	0.115
10	833954	0.110
4	478648	0.105
7	727200	0.100

No.

Vol.

Price($)

703049

0.120

679656

0.115

833954

0.110

478648

0.105

727200

0.100

Price($)	Vol.	No.
0.125	336949	8
0.130	488795	8
0.135	1275836	9
0.140	819923	5
0.145	70849	1

Price($)

Vol.

No.

0.125

336949

0.130

488795

0.135

1275836

0.140

819923

0.145

70849

(20min delay)
Last 12.3¢		Change -0.003(2.00%)		Mkt cap ! $62.12M

Open	High	Low	Value	Volume
12.0¢	12.5¢	12.0¢	$68.25K	558.9K

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