Institutional strategies basically to get cheap shares from panic/frustrated LT holders, but usually just shakes down the short-term holders. The premise is to bug a company long enough they arrange for some investment coverage or placement with the brokers. Becomes quite laughable because companies at the moment don't necessarily need cash - we are waiting for the field season to commence for instance; and transposing existing paper data or resampling cores. We are very attractive imo, with our potential tier-1 assets; just waiting for a first mover; or let the JORC do the talking. Come field season you'll be mad not to hold a significant position.
Each time there is placement or share purchase plan, the price always lingers for a while, but I think the brokers have trouble moving on - they had every chance to buy in at under 1 cent, and 1.5 cents etc on market. Hopefully if and when we jump to 3 cents, and they can see the opportunity cost they have lost themselves.
What I find weird is they don't fund projects like BMN, DYL. May be they don't have enough capital to splash; don't find the DFS phases interesting. But they have been begging for project commencement for a while. In their respective cases their bankers are needing $55lb - $65lb U308 spot price.
EPM Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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