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61 Posts.

18/06/14

19:08

Post #: 13542045
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Originally posted by ironjack5 ↑

i will start this thread and move on...all IMO
1) was way way overbought over the past week
2) release of an announcemnt Friday that ASX clarification..in hindsight mayeb should have not been released
3)the stock rose 900% and red hearts like Martis were pumping the living daylights out of it whilst he willingly admits he is a trader
4) many got caught up in the hype
4) some posters like Nihilism with resource expertise picked a few discrepancies a few hours before the ASX..ASX possibly assleep
5)gleneagle sub notices clearly shows they were selling stock..thats no problem its business
6) ammended announcement released showing cautious statements which is warranted with all spec stocks.
7) Market reacted in accordance..(nothing surprising there..
8) closed at or near lows and IMO will continue to rerate down IMO...a lot of talk about grades but there is still plenty of work to be done but QBL hope and may well get there but it takes a while from an *inferred" resorce etc and the paragraph
""We have further been advised by the ASX that ASX considers that it is only in exceptional circumstances that an entity might form the view that it has reasonable grounds for a production target, or a financial forecast derived from a production target, when that production target or forecast financial information is based solely on inferred mineral resources; and although the announcement of 12 June 2014 presented the company’s production goal and what it hoped to be able to prove and achieve with further exploration and development, there is not yet sufficient certainty of the resource to the standard required by the Corporations Act to give any certain forward looking forecast financial projections. As a result, we also caution investors against using any financial statements from that announcement to imply the current economic viability of the project as a basis for investment decisions unless and until such additional information can be disclosed in due course in accordance with the ASX listing rules and the Corporations Act 2001"""

But then i had already spoke of "inferred"mineral resource under the JOTC code (go back and have a look)

there is more but this is a simple summary...please DYOR and this is my opinions , perceptions and observations, and in saying this i can only praise the company for their outstanding efforts thus far

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Last edited by shame: 18/06/14

QBL Price at posting: 2.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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reason for fall and whereto, page-2

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