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Cheapest gold play on ASX, page-80

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vontrader

23,832 Posts.

725

12/12/18

17:29

Post #: 36836923
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Originally posted by frisbeehead ↑

Originally posted by vontrader
They commenced drilling on 8 November and said it would take approximately 2 weeks

From around when drilling would have been finishing up, the stock has tanked 33% and offered 52 week lows

Given results were due early December, I would have thought this would warrant at least some query from the ASX

View attachment 1389721
The bigger sell down and volume came straight after the shares came out of escrow on the 30th of November, which, if FAU were on schedule would have been a week after finishing drilling. So perhaps they belonged to a broker who wanted to cash in. Who knows.
They said results were expected in December, not early December. Here's the text from the announcement on the 8th of November.

..."The RC holes will be drilled to vertical depths of 100-250m to target mineralisation below and along strike fromthat intersected in the aircore drilling. Once RC drilling has been completed, a further 3000m of aircore drillingis planned to test the northern extension of this structure.
Initial results for this drilling are expected in December..."

Volume is down to a next to nothing over the last few days. Just 200,000 today and zero yesterday.

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Those shares aren’t out of escrow until 15 December 2018

FAU Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.2¢		Change 0.000(0.00%)		Mkt cap ! $2.717M

Open	High	Low	Value	Volume
0.2¢	0.2¢	0.2¢	$72.85K	36.42M

Buyers (Bids)

No.	Vol.	Price($)
53	257228986	0.1¢

Sellers (Offers)

Price($)	Vol.	No.
0.2¢	1712250	2

View Market Depth

No.	Vol.	Price($)
2	321927	0.002
42	79675968	0.001
0	0	0.000
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.003	11856404	17
0.004	17397388	12
0.005	13333936	8
0.006	6299990	5
0.007	2900000	2

Last trade - 15.20pm 03/12/2024 (20 minute delay)

FAU (ASX) Chart