SPP will be done at 15% to market based 5 day VWAP to June 29 ..... so no-one knows what price it will be done at ..... so sp aint moving anywhere til after June 29.
Bottomline is we have already had a 25% retrace from 4 to 3 taking this into account and effectively it is trading on "ex ent" basis given record date is Monday (holiday) meaning too late for newbies now.
Its all politics atm ...... and whilst so, fantastic time to stock up from now thru to any scalping from spp lots .... tho THAT scrip will prob coincide with some drill results coming and hopefully a new upwave confirmed in POG.
All considered, take advantage of June tax loss selling now to stock up cos this baby is going much higher soon enough. Market cap is sub 10 mill for a mill ozs gold ..... should be more than that on the U-leases alone if theuy made a song and dance over them and thier proximity to PDN ...... and prob double again on the U-leases alone if they nailed a JV with PDN.
So re-rating to fair value in a strongGold market should be multiples of current sp.
Butthat has to be balanced with a SPP price "fair" to long term holders ..... tho in reality nothing"fair" about a SPP .... should have been pro-rata at a fixed price and stock would already be a quantum higher now ...... IMO.
Reckon L/T holders are being "punished" (diluted) and probably for their naughtiness in voting out half the Board at last AGM haha.
Suits me cos I am a newbie post the AGM politics and have been very happy accumulating for core since the lows. Still in accumulation mode and moving ORP to equal # 2 status in my golden portfolio expecting a multi-bagger squared in the gold boom ahead.
The dust is settling and clarity will soon emerge.
IMBOOC
ORP Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
