It might be a screaming buy if you are prepared to wait to make 1 bag or less, but then you have to consider the risks as well.
From a chart perspective we have been driven down on relatively low volume and churn but there is also a big share overhang around 32 cents which represents the price of the capital raising before last and the rough level that those of us that have been averaging down are sitting on.
Given the value that’s just been given away through the share confetti give away the speed we make it back to and importantly through the 32 cent level (if ever we do get there before a TO or a “problem” comes) will be a determinant as to the future price movement IMO. A fast rise might restore confidence and sentiment in the stock but a slow rise or further falls or a continuing stagnation in the share price will test the patience of investors as the value proposition from a “100%” owned standalone perspective has receded into the quite distant future now (18 to 24 months).
Previous good news has all been sold into. The rise in price on the upgraded feasibilty study which proved how great this find and project are got bought then sold into. Shares were churned through day after day until the price was restored to where the people who lurk in the dark wanted it to be and all the time new substantial holders appeared owning 10 of millions of shares (well played scum). The fantastic announcement of the success of the deep drill hole that essentially added 2.5 years of mine life to M1 and showed that this rich ore shoot will have longevity barely registered on the share price before the black forces that control this company started hammering the share price down again.
Then we had the penultimate final blow IMO in this whole pathetic story, the share confetti give away that sent the price back down to pre-M1 levels. This was the true last nail in the coffin IMO of the planned TO. The Xmas present to B2 shareholders which they get to open in the new year and there will be nothing we can do to save this fantastic project from the greed machine.
1 bag absolute tops from here IMO, more likely two thirds of a bag. Not good enough considering the country and development risk. If this is a screaming buy can someone point me to a real money maker as I’m not in the stock market playing in the explorer/developer space in a sheet hole like BF for this type of return.Esh
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