Despite all the Pom-Pom waving (and bizarre calls of “10 cents today!”), price action suggests that it is starting to struggle around 8.4, and may now retreat to test those recent lows before moving higher. Short techs are slightly overbought.
Reality is - there are still HUGE risks with the upcoming drill(s). Anyone who says there isn’t is clearly attending their first rodeo. So before you simply claim that money in the ground equals money in the bank, take a deep breath and think carefully about your entry point.
I am confident that one or two here will state that it is a straight line between here and a higher share price: again, first rodeo. With only $40 million in the bank they cannot afford to get this too wrong, so the company is wise to take its time and get it right. No room for fools.
Ignore the flashing lights, loud music, and girls with Pom-poms. Think carefully.
Kit.
MAY Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
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