re: Ann: New Gordons Drilling Shallow Minera... AQR has...

re: Ann: New Gordons Drilling Shallow Minera... AQR has relatively small shares on issue,some 128million.
this leads to a scarity for buying large parcels say 100k.
practising,also 50 cents is a round number 'natural' point of Resistance.

I'm a retired tax book keeper and the fundamental problem with AQR is going to be revealed next week in the Cash Flow Quarterly.I think they've 'burnt out' their Cash in Bank getting these Drilling Results.

So they'll either do a Placement to Sophisticated or much better Do an All Shareholder Rights Issue.
The latter,as you know PA,is much more preferable in Dilution Consequences as well as maintaining Price Rise Momentum.

Anyhow I bought an initial parcel on today's Open and see a TA possibility of a Flag Pattern that could[COULD] take this over 70 cents.
Fundamentally the join up of JORC holes over 2klmsish supports such a price rise BUT we have the explained bleeding Sophisticated getting their mits on a Trading Short Term chunk which is a bother,hey?

happy trading.