All they had to do was find the average high grade gold attributed to the area, they didn't and the share price responded accordingly.
In addition, Wallstreet et. al. will probably continue to do their thing, but unfortunately for them, what i think is happening is their Falcon holdings probably “bypassed” their due diligence processes (since they were spun off from Chalice), so i think the asset managers are accumulating based on global stock market indicators, not necessarily because of fundamentals and due diligence research of Falcon itself.
If this is true, Wallstreet et. al. may purge this “stock” from their portfolio if it does not “perform” (assessed in a “review period”) If that happens, the share price will respond negatively in my opinion.
I think there is much pain to come when Wallstreet follows through.
The market's response to FAL's assays could have gone very very differently as evidenced by what has occurred over the last few days: BMG Resources limited, 26/04/2022, SIGNIFICANT EXTENSIONS OF HIGH-GRADE GOLD AT ABERCROMBY, ASX:BMG. Which went up >100% in the last few days which I also participated in.
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Mkt cap ! $29.20M |
Open | High | Low | Value | Volume |
16.0¢ | 16.5¢ | 16.0¢ | $6.821K | 41.87K |
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No. | Vol. | Price($) |
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1 | 24999 | 16.5¢ |
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Price($) | Vol. | No. |
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18.0¢ | 42934 | 2 |
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No. | Vol. | Price($) |
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1 | 24999 | 0.165 |
3 | 33133 | 0.160 |
8 | 221226 | 0.155 |
6 | 162758 | 0.150 |
1 | 20006 | 0.145 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 42934 | 2 |
0.185 | 7800 | 1 |
0.190 | 17919 | 3 |
0.195 | 98580 | 4 |
0.200 | 230367 | 4 |
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