Hot on the heel of a CR only 3 months ago where directors loaded up the shares at 10c, where one director bought $93k share parcel and another one bought a huge parcel of shares for $174k.
Today 3 directors again jump in with their own pocket money to scoop up more cheap shares at 10c again.
Why management is so quick with this new CR? Why dont they wait for sp going up to raise more money at less dilution? It is very obvious to me it is because they know this is the only chance for them to participate in this CR to load up more shares as they are in black-out period with sensitive price-moving developments (drillings, assay results, drillings at the newly acquired Cabonatite REE-Niobium project).
I think most people look at the new REE-Niobium project in Canada but forgot the current 10000m drilling campaign that has been going on for 5 weeks now. Most of RC, AC drilling tend to take up 3-4 weeks (diamond drilling is for much deeper and takes longer). With 5 weeks of drilling surely management must have some "preliminary ideas" of what the drilling has intercepted. I believe it MUST BE some very "exciting" hits that make management moving very fast with this CR of $3mil so that directors can lock in more cheap shares and free options at excercise price of 25c for themselves. Talking about options of excercise price of 25c, one must have high hope sp to be many multiples of excercise sp to be holding options. It is just common sense.
The current drilling at Point Kidman and Seahorse is so close to Mt Weld's 54Mt resource of very high grade @5.2% TREO and is also so close to Murrin Murrin nickel mine, and other mines as well. Have a look at the map.
This current drilling campaign is to look for REE, gold, Nickel, Copper, Cobalt.
The bottom line is: in my opinion the current drilling campaign at Point Kidman and Seahorse will bring great news to shareholders based on aggressive buying by directors and it can easily move to MC of $50mil-$70mil if current drillings hit the goodies. Add on top of that potential you also have the Cabonatite REE-Nb project in Canada with crazy 470m-505m of interception widths so far in 2 diamond holes. The potential is so big.
(20min delay)