Good luck guys - glad its your money and not mine.
An additional 96 million shares suddenly issued off the back of an announcement proclaiming a significant discovery from 26 holes with very little detail about the assay results or location in preference to providing vague information about confident upgrades to exploration targets and future revenue which IMO is pushing the boundaries. I hope the ASX are prompt in querying these disclosure standards and makes QBL re-issue the announcement according to the 2012 JORC Code so we can all make an informed assessment of whether they actually have "potential for a massive increase in resource" and near term DSO export revenue.
I was a buyer under 1c but unloaded well before the pump too bad . My friend also picked up a swag under a cent he sold some @6c the rest is 600% profit for now. What i am concerned about for him is nothing has changed fundamentally since we bought at the lows and where the sp now sits. Sorry i just can't see where 600% rise has come from. It all looks like hot air.
Hi Wilto,
You need to put a date to your under 1c purchase if an argument is to be provided for the sudden rise. However, I will just throw out a few points that could all be contributing factors to the meteoric rise. I too am a holder and not saying that 600% is warranted, but if you were looking for reasons, then here may be a few.
- As of last week, nearly at 12 month highs, and now at 9 month highs. Commodity prices often drive exploration company share prices higher.
- The Indonesian increase in tax from 30% to 50% and subsequent ban on nickel and bauxite exports will contribute to likely further price rises. Nickel prices are now at their highest in 2.5 years and that is with rising stocks. Aluminium, whilst increasing in price, is lagging but on dwindling stockpiles. Further near term rises in Aluminium may happen sooner rather than later as new data each week tends to show a genuine imbalance in supply / demand is occurring.
- We all know Joe Gutnick, well, his sister is also no mug when it comes to pulling investors and generating wealth. Management with a solid reputation for success and profit generation can often times more easily attract larger investors than those companies with a lesser known management. I am not saying this is spin doctoring, I am just saying it is the old adage of "who you know, not what you know". Mix this with some early promising drill results and you are starting to see the right ingredients for the perfect storm.
- If we compare QBL with say BAU, then advantages we may seem to have include:
- BAU have had recent management changes - always leads to near term unsteadiness QBL has not.
