Thoughts?!I don't know what to think. Sitting back having a few glasses of red enjoying what transpired today.
I have been here a while. Long enough to have weathered the rise back in late 2015 from 1 cent up to a high of 16 cents, then watch it all fall down a few days before Christmas to below 4 cents.
They were pretty deflating times and it couldn't have happened at a worse time of year.
But like some others here, I have hung it out and continued to add to my holdings since that time. You have to back your judgment and research. The gold is there at Juma East, and plenty of it. And I believe there will heaps of near surface mineralisation at Ema and Tres.
The big heads up for me was when the company announced the drilling plans for Tres and Ema. 2000 meters of drilling for 40 holes. Averages out to 50 meters per hole. This combined with the results from the rock chip samples tells me management are confident of finding a significant resource close to surface.
From my discussions with Jeff McKenzie and the actions of the rest of the board and management, I never had and still don't have any doubt in their abilities in running this company and their honesty in doing so. I still stand by the fact that management were just as confused about the 2015 results as holders were.
But they got to work and appear to have solved the issues.
Not only that, along the way they have invested significant capital of their own through early exercise of options and participated in the most recent credit raising. Their actions in exercising the options is all that saved us from Drake taking more than a 50% ownership.
Whats coming up? This is my wishful thinking timeline, all are my thoughts only and pure speculation.
Drilling to commence this month and carry over into July.
A maiden JORC on Tres Estados and Ema before years end.
Mining operation by end of 2018, albeit small scale at either Tres or Ema
Further drilling of Juma East early 2018.
Further tenements granted for surrounding areas if Tres and Ema are successful
Closure of sale of ElDorado De Juma raising a further $500,000 for the company by end of year
Lets see where it goes the next week or so. Might go lower on small volume but in the long run the major holders are still refusing to sell. They didn't sell last time it went to 16 cents and they don't appear to want to now either. This has the ability to move fast up or down. Hold your nerve and good luck.
Lastly, to the man with the biggest balls on hot copper @AndyIgo !! I would love to see what your portfolio looks like today. A long way to go for us here and I dont want to get to excited, but I certainly hoped you enjoyed today's announcement and action
Remendium, its still not to late, plenty of upside left mate
BBX Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held