Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
Morning all, Good rns today. Additional drilling already completed. Drill campaign done, results due imminently, potential for an additional target within ore body. Sp has been building for weeks, this was expected by sell on news crew. Nothing has materially changed here and in my opinion, it looks like it could even have improved with the step out drill. Sellers and MM's have knocked this down to get more shares, good opportunity to add to holding if desired. Looking forward to results RNS very soon.
Yeah no idea... I'm hoping the timing's significant here...
Been watching from afar for the last two days, lovely smooth, steady rise, with loads of volume and lots of positive chat on here. Really good to see. Sula finally feels like a proper company again, attracting plenty of investor interest. Agree this looks stronger and stronger. Zooming out to the 5yr chart, this thing looks like it's about to explode upwards. Also noted the 100 code (MM needs shares) this afternoon if you believe in that sort of thing: 04-May-17 14:15 : 200.6488 100 Buy* 0.64 0.65 0.65 O Interested to see the outcome of the new Nomad appointment but WH Ireland seem to be a fairly well respected company. Happy days!
Massive LOL :) too much star trek for you me thinks!
Hello All, I hope you are all well and had a restful Bank Holiday weekend after the excitement of last Friday's action here. I had a quick look at the charts with respect to Elliott Wave analysis now that Wave (2) appears to be complete. Daily Chart: http://www.screencast.com/t/L7Bxg7AE Weekly Chart: http://www.screencast.com/t/hy1o1tWHL4rT Analysis: Impulse Wave (1) complete Corrective wave (2) complete, supported at c. 0.4 by daily 50 ema. Impulse wave (3) now appears to be underway. Price has broken through resistance area of 0.52/0.56 and wave 1 of wave (3) appears to be complete, constrained by Weekly 100 ema at 0.59/0.6 level. 0.52/0.56 price now becomes new support level. It is likely that price will now bounce off the weekly 100 ema and return down to support levels of c. 0.52/0.56 to complete wave 2 of impulse wave (3). Wave 3 of impulse wave (3) I believe will hit the previous resistance levels of 0.8/0.9 levels so long as price clears resistance of 0.6 as there is nothing else in the way between the weekly 100 ema at c. 0.59/0.6 and those prior resistance levels of 0.8/0.9. This may be achieved with the imminent RNS release of the first core sample assay results. If they’re really good, price could soar up to the next previous resistance level of c. 1.16 from December 2013. But I suspect this price target could be wave 5 target levels of wave (3). Time will tell. GLA
Yeah very possible. Now the price has gone through the resistance of 0.52, this becomes a new support level. Only the weekly 100ema at about 0.59/0.6 which might knock the price back slightly but after that, nothing in the way up to 0.8/0.9 level. Onwards and upwards!
My money's on news next week Mattwales, seems like too much of a coincidence this close to news. Looking back at the last lot of assays done by ALS, it was 2 weeks turnaround. Come on RM, give us the news we've been waiting for! I hope the Murphy's is sliding down well by now Rev! GLA
Cheers to that, fantastic day today, well done all you sula holders. More like this to come. Enjoy a cracking May bank holiday weekend.
Getting close to breakout and highest point since August 2015..
Christ, at this rate, there may not be a meantime. She's flying. Sula nuggets for everyone!
Ahh man, stop inflating my ego!! You're all gonna hate me if this thing goes t*ts up!! Rev, what banter have you got to pass the time till results?
RM also mentioned last week at the investor thingy that at 4g/tonne, that equated to £160/tonne which was very encouraging.
Those numbers sound very palatable!! I was looking at the results of the last drilling campaign on sanama hill last night. Good grades coming back when they hit them at around 12-16g/tonne with average/m at 4.37 g/tonne length weighted which is really good. Then the section where they believe that the other target zones are AT LEAST AS PROSPECTIVE as sanama hill due to the higher ip signature should give some stronger grades. All very exciting... Looks like there is some volume today.. Perhaps people starting to acquire some before a possible rns next week??
Which independent report is that Goheavy?
Hahahaha
Wtf happened there? Bug = but, Figs = rigs Wd = we Sigh
Pass.... RM said he wanted to prove up the whole asset by end of 2017, I reckon it will not finish until more like q1 2018, bug could be sooner with the figs staying on site.. once asset is proven up, wd should see value, of if there's an offer in the meantime, or there could be a silly spike if these results are awesome and the project is detailed...
Cone head?!?!?!?! LOL Cheers Rev! Hello Jasonunchained. Erm, firstly, I know nuffink. But all the info is there in the RNS' if you take a few hours and read back through them all as well as the corporate presentations on the Sula website. In terms of value, Mattwales has given a good view. Everyone values slightly differently and there are many unknowns so you have to make a few assumptions. I used an article on the kitco website to get a value of $34/ounce gold in ground value for Africa. Then based on 0.8m oz, 0.8mx34 then convert to £ and divide that number by today's current mcap. That resulting number gives you a multiplier to today's share price. However, that assumes: 1. No discounting - there's always some discounting depending on difficulty to mine, difficulty to separate metal from rock, distance to port etc etc. 2. No price for the existing Iron Ore asset. Previously, it was assumed to be worth 4p/share on the Iron Ore alone when Iron Ore was the lowest value of $27 or something/tonne. Now Iron Ore is higher, but if a deal is done with Shandong, we have no idea on the value. 3. There will be no further dilution to prove up the exploration target into a JORC compliant resource ready to sell or take forward for economic analysis for mining. We know from the IP survey that within the license area, there are 5 labelled target zones glowing bright pink that are likely to host gold mineralised rock and also two further zones which are unlabelled and may... be explored also. So to explore these will require further drilling and therefore money and therefore equity raising, and therefore more shares, and therefore less of a multiplier when the final asset size/value is calculated. Bit of a downer, but the flip side of that is that we should in doing so, have a significantly larger gold asset and higher company valuation. Currently we have 0.8-1.5m oz from just one target zone alone. Sula will prove up all these areas and due to the strike length across all, we could be realistically looking at 3-5m oz gold or more, which if you do the maths and make some assumptions around discounting and ignore the iron ore, then you end up somewhere around 3-5p/share.. If you're looking for feasibility/costing for a mine, I'm most definitely not your guy!
Tempted!!!
Lol Rev, they're tripping over it.. RM is using a 1kg goldstone as a paper weight!