It's been an interesting correction phase over the last 2-3 months for all lithium juniors on the ASX. After that early year run/s a bit of heat has come off on just about every lithium stock. None of the fundamentals of changed, just a normal market correction really. PIO now are throwing a few drill bits in the ground, so results will be staggered throughout the remainder of this year. I'm probably most interested in their Spodumene drilling in Canada, and their 'poke' into that nickel area. I'm not so sure about the 'dome' drilling... i'm no geo but would have preferred to see the same capital put into ACRA. Perhaps we just need to have faith in DC to come with the goods! Anyho... with any luck they will hit something worth talking about eh! B
Not necessarily... i think the PIO project/s in Canada have promise... just need to do some poking. PLS has a fantastic resource, i think a lot of people are awaiting the final feaso to go public with those guys.
Surely I'm not the only one who can see this often bandied of late "correction" is an opportunity? What Lithium correction? has the price of Lithium all of a sudden dropped from the sky? No, it hasn't. So the fundamentals don't change. Same could be said for Au. Is gold dead? No. Buy.
PIO is still holding, and went back up a smidge today. LSR and went back up today after the big drop yesterday, looks like the bargain hunters stepped in.
I get it. Ok, I'll put this another way. Let's swap the words from correction to realisation. Of the 99.9% (excluding GLX/GMM, their demise, a discussion for another day) Lithium sector of Australian explorers/wannabe miners as a whole can somewhat be corrected. No one has a proved resource (AJM meh) as per PLS. Again, has the price of litho dropped? No. So PLS $2 easy PIO on the other hand is still kicking rocks. And good on them. I want nothing more than PIO to do well, trust me, but the realisation is they've found f*ck all. Core (CXO) awesome tenements but the realisation is they've found f*ck all. Hold PIO and CXO but let's get real. There is no lithium correction happening (oh' lithium is in a bubble it's over priced), but there is a realisation that most lithium stock are complete sh*t. Quite a difference. PLS is somehow being caught up in this "correction", that isn't a correction at all. Hardly Pythagoras, but if I have X amount of sh*t, valued at X, surely my sh*t is at minimum worth X? Sentiment = realisation = correction = realisation
I had an email from DC today who confirms announcements due at end September. It's my belief that PIO are sitting on some considerable Li resources at Pioneer Dome and Mavis Lake - Acra would be a bonus on gold - he says they will announce accordingly. DYOR.
Likewise - I'm about $30k in PIO skimmed off the top of BGS at 41c a while back... still holding more BGS than anything else though...
Have I read It right that they are in the process of sending options out as well ...... Being new to this can someone explain to me how these work ? And are they worth buying not just for Pio but other companies as well as I see loads of people on hc talking about trading them but am not sure how they work
The options are free to those who acquired shares in the recent capital raising, with 1 option given for every 3 shares purchased. In general a call option is the right (but not the obligation) to buy a share at a specific price at a specific date. A put option is the right (but not the obligation) to sell a share at a specific price at a specific date. You buy call options if you believe the share price is going up, and put options if you think its going down. And of course you can trade options on the market just like you do shares. These particular PIO options are call options with a strike price of $0.06 and dated July 2018. So in July 2018 if the PIO share price is say $0.20 then the options are "in the money". You can exercise the option and buy PIO shares for $0.06, making an instant profit of $0.14. If the share price is below $0.06 then obviously you wouldn't exercise the option (as you would be making a loss), so the option just expires and becomes worthless.
Good news would be great, and great news would be awesome. Not letting myself get carried away either but dam some positive drilling results would put a spring in my step! Good luck for the morning trade people...
That was their last chance for me, sold out at .24.Could be wrong but the company reeks of incompetence, plenty of other companies with potential.Best of luck if anyone still holds you have more patience than me.
I have a small parcel with a cost basis of 3.2cents... I want out, but seeing though it is a small amount I will probably hold out and see if I can break even.
Did that announcement warrant a trading halt? I hope this does well for VRS and the rest of the people that are still holding though
VRS be hiding in a dark room with a bottle of Tequila, a Bong and a Posse of tight young Asian women at the moment me thinks, oh and the obligatory suitcase full of Cash as well of course. It was a duster, a nothing, a no spodumene nor decent lithium to be seen here moment. Another example of a Mad Woman taking a shit! All wrapped up in another pointless multi day TH to deliver bad news yet again. Reminds me of Britney Spears back in the day before she lost the plot completely, Looked hot as with so much promise...... Nek Minute!!!
I'm in big and still holding. The assays are only for part of PEG008 and don't include assays for the other two targets (PEG001 & PEG002). I think it may a bit early to be throwing in the towel. DC pegging in the south before the announcement makes me believe that he's locking down the area before releasing the good stuff.