1ST SP target – once “D” ANN ismade
IMO the SP could go anywhere!
a) Because I place some credibilityon it reaching @Roch2077's
“North of $2.40” early on, (because of otherexplorer/s $2bn? MC achievements based on similar reserves’ drilling /resultsand/or near-term further potential analysis of the same resources), and
b) because of the site’sexciting prospects – as the 1st? – in 22 years – in onshore continental Africa
(BTW I stand corrected if these somewhat vague background statements are off line a bit.)
I too realise – that going backto historical and absolutely astounding SP’s reached by another stock exploring for an unrelated mineral might also be irrelevant after so long,but is outlined below, given similar euphoria which might develop by pure speculators’ projections, in IVZ’s SP in the next 2 – 3 months.
I take you back 54 years ago –yes, to Sep 1969 – when, for some months before, POS (Poseidon Nickel) had been exploring for nickel in West Oz.At that time, finding this mineral in West Oz was as prospective as finding hen’s teeth, anywhere.
Once they’d made their 1stANN of a discovery – of 5.xx% nickel? – their SP opened up $3 on the Monday at$4.00, from $1 @ COB on the previous Friday.
It took only 3 months afterthat, till Xmas ’69, to reach $50, and only an astounding 1 month after that toreach $100.
(Qualification at this point :Their SOI were only 2 point 5 million!).
In the next 2 months they doubled!! to $200!!.
I probably should not havebought ANY at such stratospheric levels, but I did anyway, soon after,buying 10 at $270,
then morethan 6 months’ pay for me.
Within the next month – Mar ’70– they appeared to become toppy at $280 at which price I got out.From memory POS fell back to ~$4 within the next year or 2.
So, with IVZ’s SOI being ~1.3 billion, ANY projection of its SP substantially rising to something out-of-this-world -
using POS’s as an Axiom 1? catalyst - is probably farcical. What do other more qualified bean-countersthink?
