Hi Mate Unfortunatly the selling presure is market generated and...

Hi Mate

Unfortunatly the selling presure is market generated and made worst by the constant selling of stock. We have been stuck in this range for a long period of time, the range is between 50c and 65c and has been consolidating for three months since the stock found its base.

The market is hammering anything atm with large EV attributed in their MC. Also the lack of positive news flow has hampered any significant movements, until the news starts flowing again we are at the mercy of the general market.

The fact is that all the studies currently being undertaken take time in order to be completed accuratly. Generally there is a 6 month window between each study.
Also reports will need to be generated for each stage (e.g. Stage 2) but can be completed quicker as some data is re-entered from other reports. These reports are

# Scoping
# DFS
# BFS

Dont forget we have plenty of news in the works atm
# 3-4 drill rigs currently drilling Ovoot
# A scoping study due any day
# More coal quality results (Ovoot and other projects)
# Potential off take agreements
# Rail developments

Times are tough atm accross the whole market and the general market has dropped back significantly. We just need to be patient and sit it out and buy in the dips, which i know is hard to do when your looking at significant losses on your portfolio. Hang in there guys, GL to all holders

GB