Post by
Bravohit on Sep 22, 2021 1:37pm
Gamble 2.0 - What's in store for us
Hi all.
I gambled again today with a bit of money. So that little spike today at around 1300 hrs…that’s me. By the time of writing this email I already lost 800$ due to the fact that the price already went down 2% (just on todays trade).
However now here we are. The price is down significantly due to China jitters. Yes China is slowing down. Fed still to make its announcement today. Things are not going well for III – they are still burning money.
The big so what and why gamble (remember its my money and my opinion).
- Price of copper is still above 4$, this is vital to the operation and stability of this mine (even though it was vetted initially as profitable above 2.5$ mark,
- Gold is recovering today, and going up – part of the reason we seen pressure on the price III is that gold is below 1800$, this does not bode well for III.
Now for the gamble – III and NC were to release the cave study by 30 Sept – at least which is what was assumed. The trinkets of information provided from NC to this point pointed to this project going the way of CADIA (a billion dollar NC assets). So we got excited. A viable Cave report would increase the value of this mine exponentially – big big bucks…….and here is the problem….and gamble….it costs huge amounts (like cosmic) to develop such a bad boy (or girl).
Can III do that without selling the remnant of its soul? Highly unlikely.
Worse case scenario – where we all lose our money – is if the Cave study finds ( that it cant build / dig a cave) such a proposition unviable. In other words the mine is a lemon….yeeh sure you got tons of copper and gold ….but so what when you cant operationalize it and profit take.
So let the dice roll……I am looking forward to the end of September jitters.
Comment by
miningfundi on Sep 22, 2021 5:45pm
Hi Bravohit, very strange III trading since the right issue - I am not sure what's going on! But I do expect excellent news very soon and continue to be a buyer - the odds look good IMHO.
Comment by
diamondlessnono on Sep 24, 2021 10:49am
What? You ask what's in store? Sorry 2.50- 2.75
Comment by
Bravohit on Sep 24, 2021 9:43pm
Well sold half my shares at 3.66. (For real) I did it because diamond told me too. greg
Comment by
diamondlessnono on Sep 28, 2021 10:54pm
Sorry u wanted to sell. Buy back later.
Comment by
Bravohit on Sep 29, 2021 10:42am
Dude I only sold because you told me it's going down to 2.50$! I trusted you Diamond! (This is where you tel me to do my own DD) BH