Ann: WORLD CLASS CLAY HOSTED REE GRADES DISCOVERED AT CODA NORTH, page-236

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mho25

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19/03/24

22:06

Post #: 72968878
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Originally posted by mrplough: ↑

This headline, was quite frankly, sensationalist, misguided and perhaps a little naive: "WORLD CLASS CLAY HOSTED REE GRADES DISCOVERED AT CODA NORTH."

They were discovered over 3 years ago. This is written like a new discovery, not something that happened years ago. Why?

To create interest in the stock? For what reason, a Cap Raise? Create liquidity? Headline material?

Surely the Directors aren't silly enough to think the market is so uneducated that they'll fall for that old trick and that the SP will continue to rise? This SP smackdown was deserved.

They should have led with a headline saying something more subdued, along the lines that the grades were confirmed, and the project looks promising etc..

Most important in all this, and why I bought another 1m on this latest dip, is that the board are looking to go ahead with the purchase after this early DD:

"The Enova Board has reviewed the CODA project Due Diligence findings and recommendations and agreed to proceed with the acquisition of the CODA project, pending shareholder approval."

I may have this wrong but I don't hold out much hope for Charley Creek. The drilling was undertaken in 2019. That's 5 years ago.

Brazil is mining friendly, cheap, and we have some serious REE players in the immediate vicinity. As a $20m MC explorer with a very experienced CEO / Directors at the helm, I still see ENV having a good chance to make a good go of it in Brazil. The land holdings there alone are probably worth more than the whole company at this stage!

Curveball comment - maybe they should look at selling Charley Creek and concentrating on CODA? That might be worth consideration rather than diluting SH further with cheap cap raises. Over a billion shares would be a nonsense at this low MC.

Expand

Factoring in ENVO, other oppies, and vendor shares, market cap is actually more like $45m and they have only JUST drilled last few weeks apparently. Any cash left? Unsure.

Last edited by mho25: 19/03/24

ENV Price at posting: 3.0¢ Sentiment: None Disclosure: Not Held
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Ann: WORLD CLASS CLAY HOSTED REE GRADES DISCOVERED AT CODA NORTH, page-236

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Ann: WORLD CLASS CLAY HOSTED REE GRADES DISCOVERED AT CODA NORTH, page-236

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