@suhm, JORC or huge commodity deposit anns does WONDERS to a s/p. Not sure why not many ppl hunt for JORC estimate release dates. Just look at what it did to PEK (now down over 70-80% since, but still, that pre-estimate ramping does wonders to a share price)
Have you read the posts by a poster called BESBS Player?
BESBS = Buy Early Sell Before Spud. Similar idea to your JORC.
The problem with both approach is the uncertainty with respect to timing. Look at what CDU did with their JORC release back in 2010.
What will today's !TH be about?
IMO
They have insufficient Cash in Bank. It is my guess they are doing a C/R.
For real!! Please mate, check out SYR stuff. They are well cashed up.
They will be making an announcement on the drilling at the graphite drill. It will just more of the same - limitless high quality graphite .
The reserves volume will be meaningless after the first billion tonnes.
Will that hurt the SP?
I'd like to get some at a decent price if possible. Holding none right now.
The build of buyers pre-open looks great for holders, not so good for me wanting to get some of the action.
Not sure how this will play out.
HI GB
I am holding none, so I am not qualified to post here.
My experience is that a company will pump the SP (Share Price) before a C/R (Capital raising) in order to reduce/minimise the dilution! Also allows for attractive premium.
Two big factors on SP are market conditions (currently whipsawing) and shareholder sentiment. This one is currently a "market darling". It may be one of few companies which can run strong through a cap raising.
The trading halt request says interim drilling results so you've got to take that to be the case at this stage. Cash at bank ~$6m after the Apr placement so there's no immediate for cash. Whether they decide to get a little bit more cash in is another matter.
Looking at the way prices held up very well after the initial burst suggests this is not a one-off pump and dump capital raising ploy. The market cap is well ahead of actual prospect of making money, but either the share price can come down or the facts can catch up to the price.
Now... what's the global annual demand for pencil lead last year?
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