Latest news update, drill results and more POSCO Dilutionhi all, great news today as they start to drill this big asset Lorraine!! It will be exciting to see what comes out of the ground and all the data they have to add more to Kwanika and Stardust. Unfortunately we need drill results and we can be seeing them by November?? Lets face it they have been drilling since March on Kwanika and took 3 months to see the first few holes. Now the second batch of holes on the 14% copper is very high and shallow. Unfortunately i want the long strike depth holes with conisistency. Remember 2 years back on Tudor? 1000m meters and they did it twice....stock went to $4. So lets hope we have more coming from Peter. We are hitting grades on all holes so far and that is promising. The biggest problem is the VWAP share price on the POSCO DAEWOO Tranceh#3. We will be diluting another 6million shares and this will increase our shares outstanding to min 165million. So for us all we can do is wait for more news and lets hope for long strike holes with good grade. For now with the Tranche#3 still pending and god knows if the 20day VWAP is .35 cents a share that will hurt our stock. So i will buy under .30cents and target .25cents for the rest of the month.
see below BID vs ASK for the morning....
Level 2 Quote
Level two quotes - Bid | Number of Shares | Bid Price |
| 12,500 shares | 12,500 | 0.320 |
| 57,000 shares | 57,000 | 0.315 |
| 21,000 shares | 21,000 | 0.310 |
| 91,500 shares | 91,500 | 0.300 |
| 8,000 shares | 8,000 | 0.290 |
| 13,000 shares | 13,000 | 0.285 |
| 97,000 shares | 97,000 | 0.280 |
| 41,000 shares | 41,000 | 0.265 |
| 12,000 shares | 12,000 | 0.260 |
| 100,000 shares | 100,000 | 0.250 |
Level two quotes - Ask | Ask Price | Number of Shares |
| 0.350 | 10,000 | 10,000 shares |
| 0.360 | 4,000 | 4,000 shares |
| 0.365 | 7,000 | 7,000 shares |
| 0.415 | 8,000 | 8,000 shares |
| 0.420 | 30,500 | 30,500 shares |
| 0.440 | 7,000 | 7,000 shares |
| 0.445 | 6,000 | 6,000 shares |
| 0.480 | 1,000 | 1,000 shares |
| 0.490 | 4,000 | 4,000 shares |
| 0.530 | 500 | 500 shares |