ESS - Essential Metals

[Al Greeneye]

I think you'll find that the 3 new posters are all long term holders of PIO who believe in the fundamentals of the company regardless of the current fluctuations.

 

[Porper]

I think you'll find that the 3 new posters are all long term holders of PIO

And you would know this how? Perhaps you are the '3 new posters"?

Down another 3.5% today...good luck with convincing people to buy. Try Hotcopper, members here tend not to be so gullible.

 

[Al Greeneye]

Porper, I am only me.

I have a small holding in PIO and regardless of the latest rise and fall (is still above where I bought in 3 months ago so hasn't fallen all that far yet). I am not here to draft in new investors but to learn all I can. I would be most surprised if a couple of positive posts with no detail/links/etc about a stock convinced anyone to part with their hard-earned.

The last company info is from 2012 which is not terribly relevant to where they are today and then a huge gap to very recently so this stock has obviously not been on anybody's radar here.

 

[greggles]

Some good news for Pioneer Resources today after the company announced that assays of rock chips taken during geological mapping at its 100%-held Pioneer Dome Project near Norseman in Western Australia have provided evidence of high grade spodumene mineralisation within two pegmatite exposures that together exceed 500m in strike length.

Follow up drilling is scheduled to commence in August, with up to 5,000 metres planned.

The area is known to be prospective for lithium with Mineral Resources, Alliance Minerals and Galaxy Resources all operating lithium mines in the region.

The news has boosted PIO's share price 21.4% to 1.7c today and it looks like the bottom is in at 1c.

 

[barney]

Some good news for Pioneer Resources today after the company announced that assays of rock chips taken during geological mapping at its 100%-held Pioneer Dome Project near Norseman in Western Australia

Another minnow Lithium Stock bouncing off its lows against the trend …… Interesting.

 

[greggles]

Another minnow Lithium Stock bouncing off its lows against the trend …… Interesting.

Some good news today from PIO regarding the drilling at the Dome North prospects:

The first orientation drill hole, PDRC263, drilled in an easterly direction at Target 2, encountered pegmatite ‘down‐dip’ of the outcrop from which the 17 rock chips containing spodumene returned assays between 1.65% and 3.70% Li2O (See Table 1 for drill hole locations and Figure 2).

Pegmatite was intersected from 175m down hole and continued to the termination of the hole at 311m (136m). Such an intersection suggests that the pegmatite is dipping approximately parallel to the first drill hole, which was angled at ‐60O from horizontal towards east, and therefore the apparent width is greatly exaggerated.

Two further holes (PDRC264, PDRC265) have been drilled to the west. These targeted the pegmatite intersected in PDRC263 from the opposite direction and are believed to have given a better indication of the true width of the pegmatite. To date, pegmatites have been intersected in PDRC264, between 33‐54m (21m), 66‐71m (5m) and 107‐115m, and in PDRC265 between 122‐151 (29m) and 180‐188 (8m).

Spodumene mineralisation is indicated in all pegmatites intersected to date. For drill intervals where Pioneer’s geologists have logged spodumene, selected individual drill chips of the respective 1m samples have been further appraised using the Bravo handheld Raman Spectrometer (“Raman”) 1 to support their observations.

Sounds promising.

 

[System]

On July 23rd, 2020, Pioneer Resources Limited (PIO) changed its name and ASX code to Essential Metals Limited (ESS).

 

[Dona Ferentes]

Gold and lithium explorer Essential Metals ESS is on the hunt for almost $3 million via a $2 million placement and $750,000 share purchase plan.

The deal was priced at 8.5¢ a share, which represented a 15 per cent discount to Essential's last close and an 11 per cent discount to the 10-day VWAP, according to terms.

The raising was company-led and $1.5 million cornerstone support had been locked in through Fresh Equities, potential investors were told.

Money raised would go towards drilling programs and explorations activities at Essential's projects, which are primarily located in Western Australia.

 

[Smurf1976]

Not a company I know overly much about but I see that it's up more than 100% over the past month:

 

[greggles]

The ESS share price has turned bullish since the company announced a week ago that they have raised $5 million (40,000,000 FPO shares at 12.5c a share) to advance their Pioneer Dome Lithium Project south of Kalgoorlie in WA.

Today's price action definitely looks like a breakout. Huge volume, finished the day at its high and confidently smashed through previous resistance at 17c.

 

[greggles]

Some encouraging assay results from the Pioneer Dome Lithium Project announced today. The good news keeps on coming for ESS. More assay results due at the end of this month, so there might be more share price gains in the coming weeks.

 

[frugal.rock]

Flippin heck!
Looks like it's trying to put a payload into orbit...

 

[Sean K]

Flippin heck!
Looks like it's trying to put a payload into orbit...

View attachment 135639

And this was after they sold Marvis Lake to CRR. Nothing else of significance or pending that I can see. Seems like you just need a lithium project.

 

[Sean K]

Lithium things seem to be pretty hot. Too hot? Is this a musical chairs type thing?

 

[Sean K]

If you don't think the Lithium Jizzem is a thing, then you're on the dark side of the Moon.

These guys got a please explain on the 11th, to which they said they were taking lithium, and then came out with this today.

DYOR and get prescribed lithium.

This is almost tulip-like.

 

[Tyre Kicker]

It’s been fun watching this one and I hope it continues but I had to take some profit before close yesterday.

Incredible run up so far.

 

[Sean K]

It’s been fun watching this one and I hope it continues but I had to take some profit before close yesterday.

Incredible run up so far.

These things invariably do stop at some point. Any 100% gain is a pretty good win!

 

[Tyre Kicker]

Got in very early on so enjoyed a big % gain. Kept quite a few and probably should have sold some this morn at 55c. Not sure what to do with them tbh. I'm not really a trader, more buy and hold but when this type of run occurs some profit has to be taken.

 

[Tyre Kicker]

Off and running again - up 8.5c this morn.

Geez.

 

[Tyre Kicker]

Trading halt - potential control transaction for the company.