RE: Rattle aren't they drilling now on the
Q - According to fireguy’s post on the Agora board, which is copied below, he received a call from Ron Perry, following his persistent messages. The upshot appears to be that:-
- Drilling: Metanor has drilled up to Spring [2010], but not since then.
- Shorting: Metanor are aware of short selling.
It is possible therefore, that drilling for the first quarter of 2010 may have been made available for the 43-101. This is more plausible, since it is now reported by Ron Perry, that there was no drilling after the Spring. This is also when Metanor had previously reported that they sent all the information required by Geostat to them. Also, the thinking may have been that drilling after Q1 should await the 43-101 results.
It was of interest to read that Ron Perry did not refer to the motive for the short selling, which could include:-
·Greed by financiers who triggered a stampede out of the stock with short sales (May to August) and then covered for profit at lower prices. If this were to be the situation, then the shorts may now be profiting again by selling their profitable short purchases back to some of the shareholders who baled out at 0.42!
·If the shorts were motivated by a buyer seeking to warehouse stock, for whatever strategic purpose, which could include a bid, then these shares will not come back on to the market any time soon and the SP may therefore rebound quicker.
As a long term investor, I am waiting for the prospects of the 43-101. More importantly, I shall be very interested to hear how the company will capitalise itself in order to generate underground mining at Bachelor and raise the multi millions of completing drilling and installing a concentrator at Barry. The key to this future development and an economic capitalisation for existing shareholder (including directors), will be a high share price platform after the 43-101. Unless this information is produced soon after the 43-101 results, then a lack of momentum may follow. A robust financing plan may provide a further boost following a positive 43-101.
Raffles.
Re: Waiting for some answers!
in response to Re: Waiting for some answers! by h_rattle
posted on Aug 26, 10 10:38AM (Log in to use the IP Check tool) [?]
Thanks. Ya, Ron actually called me about 5pm on Tuesday. He said they've been swamped with E-mails and phone calls. He confirmed they are aware of the short selling and stated that there has not been any drilling on Barry since the spring. The 43-101 will speak for itself.