If these 3 factors arnt all coming together at once I'll be Macraes toosh!
Groundhog month coming up Hoof with any luck.
Weve done nothing but bemoan about the sp ever since it came off its 38c high.But its just refused to dip below 20c,as much as some of us thought it would(including me),and has consolidated what seems to be a very strong base at low 20s.
In fact its had 3 bullish moves in this consolidation phase the last of which was a substantial rise of 3c on lowish volume backed up by a second day of significant volume much like Sept 06(our groundhog day).An even stronger move in the context of the fact that the day after volume was double that of Sept 06!
We have now moved into the equivalent of what turned out to be the final cycle of accumulation in Sept 06 prior to the rather impressive move up to 38c.
As you rightly point out Aim is fundamentally much stronger now than when it was 38c when it had simply the promise of sooner mine/production start-up and a tentative finance package.On this basis it moved to 38c!
We now have
*An exploitation license(one of Lonsecs major requirements)
*20 odd million in project equity backing(another of Lonsecs requirements partially adressed)
*Significant site advancement towards a portal/decline start.
*Appointment of a TSX friendly board member.
Im getting the feeling in my scurvy bones that the management is being settled into its final capital raising/mine production form,one half of which is done with the appointment of Vic Bradley our new non-exec Chairman.
If the fundamentals continue to pan out the way MF would like them to with an offtake imminent,perhaps backed by something on the finance front,we may finally be kissing the low 20s goodbye.Zincs recent movements cant be hurting on this front.
MF's slowly but surely plugging that leak in ye good ship Aims hull.
The big question for mine will be if the offtake is good enough for the lenders or will they want more equity backing.Obviously hoping the former!
d.
AIM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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