You put rational thoughts into an irrational market and all you get is a pile of mess with hairs you pulled out during the process.
The trend is your friend.
In my opinion, the value of the project remains the same 1 year ago when we were 30million Mcap as we were now. Difference?
1) Dynamics (BNS) were buying on market. Tight structure means them becoming substantial holder allowed us to move up fast and fast we did.
2) Gold price was high. The uptrend was strong across anything gold related. Anything gold during that phase this time last year, means you will gain 20-40%.
3) Anticipation of the first DD program on Arakaka. A lot of hype going into the first drill result after Barrick JV. Punters hoping that it'll find the elephant and do a CDV. Did not happen.
What happened were as follow.
- Poor results coupled with poor communication and constant delay. Imagine as an investor calling in to ask for drill results, and all you get is excuses. They started drilling June, and only released the results in October for a 3000m RC program. That is not a good look. It started the down trend, and Dynamics subsequently started selling their holdings
- Then Ianna acquisition was delayed.
- We then started seeing management converting the 0.01c options. That was an extremely bad look on the market.
- Second drill program started, February, and only in August they released information to the results. What is there for retailers/market to react to when they have been so passive, and the results were again, sub par.
Retailers and traders currently do not like this stock. That's all i'm saying. The charts on a down trend.
I do not disagree with you on their pro's. but right now, we are still searching for support. Are we cheap? I think so. But the results needs to start coming in soon, otherwise we cannot break the down trend. If i haven't been averaging up, I'd definitely look for more. But I took the rights issue and then some. Right now i'm not happy and would wait for some positives. Communication piss poor.
AQI Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
