I don't give tips or investment advice. I try to give my honest opinion on ASX announcements based upon my training and experience. I see potential and can estimate how big a deposit may become or how significant a drill result is. The lack of details in most ASX announcements means that early estimates or assessment of exploration potential are quite speculative. For me it helps to speculate a bit to make decisions on the merits of investing although I know I won't always be correct.
Always remember that many a drill hole has ruined a good prospect or exploration/mineralisation theory. I don't know what the share price will do because even if the company has found a great prospect that alone will not determine what the share price will do. If the market tanks then all boats fall, if commodity prices go down then even good companies and projects are viewed as less valuable (and they are if you do an NPV calculation). I have no inside knowledge of how algorithm or chart based trading works. I make the bold assumption that good exploration results will win eventually over chartists and algorithms. This is what has happened with SPQ and CNB recently. It would have been very easy to get downhearted and abandon these shares in the last year.
@mode1971 my estimate of copper % at Bottletree are a bit less than yours, especially for BTDD004. We are both working on the chalcopyrite estimate released on graphs by SPQ. One thing is clear is that SPQ will err on the low side and may make my estimates a bit low. The queue of angry investors will be very long if the SPQ estimates create unrealistically high expectations. My estimates as previously posted are:
BTDD001 - 40m @ 1% Cu plus three additional zones of 6-8m@1% Cu each
BTDD003 - 100+m @ 0.2% Cu
BTDD004 - 16m@ 0.7% Cu and
[email protected]% Cu (or a very large intersection of lower grade)
Previously one drill hole had
[email protected]% Cu
SPQ has a number of exciting prospects and for information my personal estimate of share price was low. I estimated a market capitalisation of just over $100million
after release of the results from BTDD001. I would love to know who has been buying. It has been very strong and large volumes and it seems too strong at this stage of results unless some corporate activity is taking place. Of course I could be wrong.
Always DYOR and take responsibility for your own investment decisions. Your investments must take into account your personal finances, risk and age profile, investment diversification and external forces such as market and political risks.
I don't give tips, just some reasoned explanation of ASX announcements. I do get it wrong. I sold BD1 around 3.5 cents for a good profit, within a year or two they went to several dollars. I bought TRY based on exploration potential and sold for a loss many years later after reading the annual report, subsequent performance justified my sale before my capital would have been lost or tied up in an extended company trading halt. One of my best results was a company I bought because of a gold prospect and I left in the drawer for a few years whilst I travelled, it was a multi-bagger upon return but for completely different reasons to those which I invested for.
Enjoy the ride with SPQ as their projects unfold.
(20min delay)