Scallywag results are out.
Just need someone to interpret it!
There is a lot of technical info in there
Yeah hopefully someone with experience with drilling results will help us all out.
Share price is tanking. Haven’t seen the results but they are obviously very poor
To buy or not to buy?
Thoughts from LTH Tom the Bomb. I’ve topped up at 26p.
Yeh I bought more, that’s just a lot of stop losses all at once I reckon.
I think there’s been an over-reaction in the market.
I’ve bought some more this morning. Drill results weren’t great on 3 of the 7 holes drilled so far at Havieron but they weren’t very deep. They have found gold and other minerals, but the grades were very low and it seems some shareholders expected the motherlode on hole number 1.
Exploration is risky and it can take years as I mentioned. The share price in the 30’s was covered by what we already know at Havieron hence me buying more this morning.
New targets have been identified at Scallywag and they will keep drilling. If the share price stays down here for a few days I’ll free up some more cash and continue to buy.
I imagine it will be a combination of over-reaction leading to stop losses, which triggers a massive selloff when the price hits X amount. Have happily topped up at the reduced price, making my average price per share 0.1542 - despite the news from those drill results, have to keep in mind that is only 3/7 drill results back, and alongside this Greatland have other prospects across other sites and some great results in the past to look forward to for the future. Also the drills were shallow, and not the full depth to explore further.
On a massive side note - why is there a slice of cake by my username?
It says today is your joining anniversary lol
Happy forum anniversary!
Topped up this morning - the market reaction was ridiculous. Havieron itself is a very big discovery and there are more results due out for it next week.
Today just proves that some people are just not cut out for investing, especially in the AIM market. I’ve read that 26% of shares are now owned by institutional investors, a lot of which have bought at 30p+ - do you think they’re all losing their heads and selling today? Of course they’re not.
I suspect this will have all blown over by the end of next week when we get a Havieron update.
agreed. Wish i noticed sooner though to buy more
Annoyingly this has happened 2 days before payday but I’ve managed to free up some cash and jump in at 28p
Hopefully these lows stay till Friday (but I doubt it)
The order book is just solid buys practically, except for that guy who sold 500,000 at 23p 🤦 30p EoD if not before.
Reaction from Gervaise Heddle to Scallywag results here. He’s realistic about the initial results being a bit underwhelming but is hopeful about future exploration. Calls SP drop an ‘overeaction’.
For me Scallywag news was really disappointing and going forward I won’t assign any value to Scallywag.
This is AIM, so the market reaction didn’t surprise me to be honest