I am posting this in a separate thread so those that are still holding can find it easily, without having to read all the BS to do so.
I make no comment on buy/sell or otherwise , however these are the facts, please note BOLD text area, which I believe if had been re worded in the Ann this morning to read what is below, we may not have seen todays retrace.
QBL still has potential in my opinion. DYOR
Response to Shareholders’ queries Dear Shareholders, We at QBL are quite surprised as to the reaction of some in the market to todays announcement. We note that there has been extremely strong buying with over $4M of shares bought so far today, showing that numerous investors in the market strongly share our vision and the potential upside of the Company, although the shares were bought at lower prices due to some shareholders responding to todays announcement negatively. Our view is that the announcement today confirmed and more all the technical aspects of the previous announcement. Prior to the release, some shareholders contacted us and were afraid that we wouldn’t have the technical detail to back up our resources claim, but in fact we had that in spades, and was released in the 37 page report today. We believe that nothing has materially changed since the first announcement. Our goals remain our goals.
The potential upside remains. Confusion may have arisen because we were advised by the ASX that we should retract our production target only until we have provided further information and independent reports. In any event, we intend releasing quite regular announcements and updates as we fast track development of this project, as we believe this to be an extremely exciting prospect that we hope will create a lot of shareholder wealth.
In addition, we have been notified by Gleneagles that they sold shares they received on the back of the convertible note approved by shareholders in order to cover their outstanding debt and interest that the Company owed them, and they retain their remaining shares for the continued upside and they continue to express their confidence in the company’s future and therefore they have converted the entire note which caused them to become a substantial shareholder in the company. Had they not had the confidence in the future of the Company they would not have converted the remainder of the note. The Company now has no debt or interest at all owing to Gleneagles which is an extremely positive development for the company. We hope the above clarifies Shareholder queries. Best regards Pnina Feldman
QBL Price at posting:
2.5¢ Sentiment: None Disclosure: Unspecified
