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hotwolf

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04/12/17

13:40

Post #: 29349527
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Originally posted by rodb ↑

A bit mystified by the slow demise of the S/P since reaching a high of 9.2c on Nov 10 so whats happened?

On the 10th the company announced a cap raise to take our cash reserves to $6mill and taking up the option on the Earaheedy zinc prospect. As a result we now have 353 mill shares on issue.
On the 14th Nov the company announced drilling had commenced at Braeside.
On the 23rd Nov an upbeat AGM was held.
On the 27th Nov announced that drilling had been successfully completed on time at Braeside with VISIBLE Zinc, Lead and Copper sulphide mineralisation and that analysis would take 3 weeks.

Now other than the cap raise at 7 cents that some may view as massive dilution I can't see why the selling which is causing the to drop almost on a daily basis, there has been some really seesaw day's when it's up then down however closing on the down with some significant volume on some day's e.g Fri 1st Dec.

The Pillbara is a hot spot at the moment and we have over 1000sq kms including a yet to be explored patch of conglomerate gold and I'm not selling..quite the reverse in fact.

The company has lived up to everything as announced on time and for me that's a huge positive.

Cheers
rodb

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Its not a mystery- everyone who jumped on the Pilbara conglomerate bandwagon had 20% wiped after Novos dud results. Trader impatience, another raise and the spec boom finally getting its wild premiums wound back explains the rest.

We're at a 21 mil cap as it is - a large premium to the average explorers market cap for that last five years. You've simply underestimated your risk.

RTR Price at posting: 6.2¢ Sentiment: Hold Disclosure: Held
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