Who’s buying and selling, page-35

My take for what its worth

We were a gold company and changed direction to Lithium. There were a lot of players in BGS for the gold who left, but we also had a stack of new investors that come on board for the Lithium.

Apart from the raising overhang, I believe we have the same issue again now we have changed our focus from Lithium to gold, so the new blood coming on board is managing to get their fill of shares from stale Lithium sellers leaving the business.

What Fire Finch has done is not a common occurrence. You normally get spec exploration companies that drills and Drills Raises and Drills some more to find and develop a resource, there is usually a lot of opportunities for the SP to move during this process, but inevitably they come to a point where to move forward they need a DFS and funding to build / secure a plant to process their gold or whatever they find. Depending on the numbers this can be a catalyst for further SP movement or if the market has doubt it can impact adversely.


Now Fire Finch has gone back to front, we have procured a behemoth gold plant with some small near term income generated from processing the tailing's. But when this runs out things could go pair shaped quickly if we do not have more gold to process.

So I believe for this to really move the resource upgrade and drilling is critical to give investors comfort that when tailing's cease we have more ore to process to generate income. Clock is ticking and these guys need to hit their milestones, they cannot afford to be maintaining Morila and staff with no gold revenue.

The positive is we have a seasoned team in the Morila staff to do what is needed to get this to the next stage of mining satellites and resurrecting the Morila main pit. It is in the current employees best interest to ensure timelines are met to maintain their jobs.

So right now we are approaching the Christmas dead zone, things will slow down as always. But hopefully during December the balance of the dead wood will leave and put us a prime position for the resource upgrade in January and drilling results to extend resources.

I believe resource upgrades and drilling hits should be massive catalysts for the price to move north as there is no question how do we process the ore.

Imo