Some long termers bought in for less than a dollar. Others like me a little later. That means that some investment targets have been met already and some are yet to be met. It was only a matter of days ago that the SP was in the $8-$9 dollar range, and 1-2 day's hard selling already has nerves fraying. As a previous poster said, someone is buying into all those sales, i.e. at $9.40 ish someone thinks its is worth buying 3.8 million shares. We've all ridden out corrections and panic activity before and its not the first time its happened to EXT. Remember, there are drill results pending on the emerging zones, and the underlying value (several sources have suggested $10 is a fair value even as it currently stands)
If as has been suggested, the expectation of 600Mib plus has been factored into the price, then how do you explain the SP bolting the other day on just a few early Z3 results, telling us what we already knew or suspected?
EXT has simply taken on a new role, instead of just a steam engine powering ahead, it now has massive day-trade potential and people are simply responding to this IMHO.
EXT Price at posting:
$9.40 Sentiment: Buy Disclosure: Held
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