Shares are still being mopped up sub 6c - I bought my first at 3c-ish, so 2 things to say: 1. Watch what happens in the last hour today and on open tomorrow - buyers will be back in for sure 2. PIO isn't a one horse pony - I diversified into the stock from BGS because they both have gold + lithium I'm comfortable buying PIO sub 6.5c and if I can top slice any other profits I'm holding will definitely consider adding in due course. When results received aren't as good as one would like, either take a view and ride it out, add or offload if it hits your stop loss - mine's 15% max.
it had to just shot up way too quick. You can argue that materials got hit pretty bad today but not a 20% drop compared to >10%.
After weighing today's action and comments I decided to make a smallish punt on this one sub 5c. For what its worth: Lepidico is a company owned by Platypus (ASXLP). Lepidico says on their website: Crusader Resources (ASX:CAS) has a joint venture with Lepidico for Lithium exploration and extraction in Brazil.
^ wouldn't this fate be similar to DKO when the result was aint pretty? DKO lost half of its market cap, if I am not mistaken .... $50m lets see how far it goes on this one .....
It ended the day on its intraday low and on record daily volume. That's pure negative daily volume. What's that suggest to you? Lower to me. The early rampers exploiting the Li 'theme', and creating the prior volume, are scuttling away with their bags of plunder (- irony
I traded it briefly before I bought twice - first at 3.3c and then at 6.2c - not rattled given that we have 3000+ samples still to go - and if anything why wouldn't a sensible l/t punter buy at 5c? Not playing devil's advocate or anything but in this space there are a limited number of credible contenders with significant resources - and split risk, as PIO and BGS have - on which to place your bets... I was surprised Southern Cross might have thrown the baby out with the bathwater though - we're only at the start of the lithium story, which will run for at least the next 5-10 years...
I'll be a buyer again at 3-4c, got out at 7c this morning as no Spodumene at the dome meant this was going fall hard after a three day TH and all the build up, still a solid company with a lot going for it.
Fair enough but I'm not sure we'll see 3c - the tester will be how things go in Germany today... http://www.finanznachrichten.de/nachrichten-aktien/pioneer-resources-limited.htm
Wow! touch day huh... there i was at midday for work photographs and i couldn't even bust out my best smile!! All-in-all... market reacted hard to no spodumene news! very hard... mica etc. in the first 650ish samples with some high rock-chip samples. They reported less then 25% of the total rock-chip program (2/13 outcrops). We still have like 3200 samples to go and the re-assaying of cores etc. at Pioneer Dome. The results were good enough to throw a DD into 9A/9B for the hell of it i think! I'm really not that phased... Pioneer Dome was never #1 Lithium tenement. We have Spod in Mavis Lake which will bring some more positive news to the pallet over the coming months. Throw in Acra and the others... few bases covered. Not every day its sunny... we were at 1.7c only a month ago. Anyone complaining probably got in late... and are grizzly as fkcu. See how things go tomorrow! I might grab some more if we head further south... Now... where's my beer gone. BB
The whole metals market was down heavily too so I'm nursing a bruise too but confident when Mavis gets rocking we'll be in the money again...
There was a few decent sized transactions going on today. Not the sort of money to be throwing around on a whim. This whole 3 day TH is iffy. Surely management knew the announcement they put out would be seen as a bit ho hum, so why 3 days? Surely management knew the hysteria this (3 day TH) may create prior to the ann. In hindsight, there is zero positive motive to the company/investors for management to create this hysteria sitting on the information they released. They knew it would end badly, possibly an added bonus it fell on a day the Li sector ended badly. Iffy.
Someone on HC mentioned they emailed DC about it... 'why would yo have a 3day TH to produce a Mica report'? The response was on the lines of that because of the grade... regardless of the geology the ASX listing rules meant that they have to reveal what they had found otherwise they could be caught under a spotlight. With the yoyo that's been the Lithium space of recent... all are being put under pressure to keep the market fully up-to-date. Better days are on the horizon! Cheers, BB
Yep cheers mate. I can understand the transparency thing and co's walking on eggshells etc to report but it still doesn't explain the massive stall. I thought GXY ann. (-4.75% today btw) yesterday was much bigger news, they released @ 9:45 am for the market to digest and on with the show. PIO could have done the exact same thing. Better days are on the horizon! indeed.
I topped up @ 5c and may buy some more if it drops further. I assume there was a lot of profit taking so we may see a retrace tomorrow as they buy back in, probably late in the afternoon.
