Rat pack, I believe so.
Spq announced on 21 Dec 2021 extensive copper mineralisation.
btd004 - intersected numerous VISUALLY observed copper-mineralised vein sets and disseminated copper over MAJORITY of 659m.
Strongest mineralisation occurs over a 200m interval.
about 200m vertically above stronger copper mineralisation encountered at bottom of first hole BTD001.
BTD001 referred above at that location has 1% cu running into BTD004 at 300m approx depth, right at the highest BTD004 1% cu levels.
BTD004 has 200m 0.5% to 1% cu from approx 225m to 425m deep . The average will be 200m @ 0.75% cu
That is hot. Carnaby has shifted 500%, on a 40m intercept and they do not own 100% of there deposit. .
If spq drill a hole 200m west of BTD004, parallel to it and terminate at BTD001 at the 684m, where the 40m @ 1% cu is.
Its likely 300m intercept because BTD001 has highest cu at end of hole.
That proves copper goes deeper west or btd004 because btd004 between btd001 and btd003 would have returned 1% cu, but did not.
The next hole if 200m west and does strike. We would be looking at 300m x 200m x 200m. Assuming width other way as drilling has been East to west and west to east, not north to south.
300m x 200 x 200 x 2.9 = 35m tonnes @ 0.75% = 261k tonnes x 12k a tonne = 3.1b x 10% roi = 310m = 20c per share.
And they are on the east edge of it.
I note btd001, was 684m and it ended in mineralisation with the last 40m at 1% cu, with a 1.25% cu spike. Its a shame the did not drill another 100m deeper.
The above grades are from figure 3 in the Dec 21 announcment.
Soils have returned gold also, so I'd assume there will be a gold component to what we see, just not noted as only chalcopyrite logged.
Cu is 33% generally of chalcopyrite, so 3%, chalcopyrite is 1% cu.
On trade. We had Christmas and New years just after the 21st Dec news mentioned above.
Id assume the accumulation started 29 Dec due to holidays, etc. With many on leave, a buyer would not have been able to get qty.
Trade was no a pump or daytraders, because we had 189m shares bought or 12% of the cap in 7 days with average 27m a day. Interestingly Friday was 59m shares, twice the 7 day average, also it was the highest gain day % wise.
They wanted max shares Friday.
In the midst at one point we had just 1. 5m shares on sale or sub 0.10% of cap. Even now there is just 6m shares, just 0.4% of cap.
Considering Spq rose from 2.1c on 24 Dec to 7.3c on 7/1. 246% in 7 days.
Pump or day traders would be taking profits, we certainly would not have 6m shares on offer when 189m have been taken. I'd expect 35m min on sell if that was the case. Esp with 100% to 300% gains.
To me one buyer. If we had many, different trade styles
The style was max share buy at any price.
Generally daytraders or those in it to sell for gain, will not line wipe 2 to 4 rows of sells as there not accumulating.
They generally go in the que, bulk up sell and get mums and dads to sell down.
Here when the qty built, wiped. Never happen when there were less than a few million shares across a few price points.
I also feel the buyer may have accumulated a few % pre this as smaller accumulation had been occuring pre 21 Dec.
If its a move, it had to occur fast for the max shares or the buyer would have got stung at 5% disclosure.
We may see 12% disclosure in one hit next week as buying was relentless.
Rio pegged ground recently, maybe they like what they see on there own ground?
But I think it's all to do with the Dec 21 announcment as it gives away the results by adding the 3% chalcopyrite graph which is 1% copper.
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