CXO 0.00% 10.0¢ core lithium ltd

understanding bluey's and inkheart

  1. 11,511 Posts.
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    I think to really get a grasp and understanding of the likely evolution of Bluey's and Inkheart one needs to carefully read up on the development of IVR's Paris discovery particularly from their initial scout drilling in January 2011 through until the period between January 2012 until March 2012.
    IVR's initial scout drilling at Paris occured in January 2011 and the big money started to enter IVR around July 2011 when the price was still around 16c.Subsequent to that IVR hit it's high around 41c on March 1st 2012.


    I don't expect CXO to hit the bonanza in the first hole or even perhaps in this first round of drilling. Below you will see a screenshot from an announcement of IVR on February 21st 2011 after initial scout drilling and then one from August 18th 2011 detailing what they had found at Paris from their drilling in July 2011




    More importantly for me is the potential for copper in and around Bluey's and Inkheart and the the broader Albarta tenements they hold .That is what distinguishes CXO as having far more potential than Paris IMHO .What i am most looking forward to is not assays from Blueys but an update on their understanding and plans for their copper prospects nearby.
    By the way even if drilling has concluded at Bluey's (and I have no idea whether it has or not) do not expect to see an announcement as to visuals indicating discovery,that won't happen IMHO in this early round of drilling.I think they will need to wait for assays to know what they have,the best I expect( and hope for) first will be an announcement by the company detailing the rock type they are drilling in and what the significance of that is ie is it rock suitable in age and type to host a significant discovery.
    As well as having a "keeper" parcel of CXO I have also traded it recently and yes,I did sell some in the recent day trader led spike which I have successfully bought back in it's recent lull.
    For what it is worth I am of the opinion that CXO has been the plaything of a few traders who have sought to sell it down on small parcels recently(particularly at end of day) and who have been busy accumulating another position after having offloaded their initial parcels in the low 8's.I am very certain they profited enormously from their shenanigans and their "round 2" will eventuate soon
 
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