I don't understand why posters randomly try to predict future SP or announcements with no supporting evidence. It's like they are trying to be astrologers who can come back in future posts with "See...I was right" and vanish if they were wrong.
The only information we have is what the company has released to market and other relevant factors (e.g. Lithium industry, Darwin weather, previous tenement exploration reports...).
Personally, nearly all news released to market to date since discovering BP33 has been promising.
Some Lithium explorers, including CXO in phase 1, release announcements regarding visible spodumene in core samples prior to assay results. These announcements are missing in phase 2 so far, despite 2 x 70+m intersections mentioned at FWN, plenty of holes already having been drilled, and market sensitive announcements plus AGM providing opportunity to squeeze these updates in.
Therefore, with news imminent, the short term risk/reward equation is all about "With 5000m+ of targeted and follow up drilling in phase 2 happening, what price do I think CXO shares are worth on the probability of additional large intersections of high grade spodumene?"
The cheaper the share gets without news, the greater the upside for buyers at those prices if positive news is released. That's what all buyers want and it's up to sellers to make that happen. Sellers will do that, espevially if they find other opportunities to buy elsewhere or wish to preserve whatever capital they have for fear of losing more.
Sharemarket 101.
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Last
9.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $210.0M |
Open | High | Low | Value | Volume |
9.7¢ | 10.3¢ | 9.5¢ | $2.427M | 24.77M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 62000 | 9.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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9.8¢ | 314028 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 62000 | 0.097 |
8 | 1776602 | 0.096 |
33 | 2972167 | 0.095 |
7 | 741295 | 0.094 |
9 | 299720 | 0.093 |
Price($) | Vol. | No. |
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0.098 | 314028 | 3 |
0.099 | 229124 | 4 |
0.100 | 968675 | 11 |
0.105 | 4519522 | 36 |
0.110 | 4141069 | 49 |
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