Every investor have their reason to sell/buy but so close to an offer I shake my head when the ultimate tick for derisk aka ML was just issued. This has been talked about/anticipated since F and so far all has come true including the volatility. I have been guilty of not yanking out my wallet when not so long ago it fell below $6! I could see the panic then and understood what it meant to go against the sentiment but without the ML it was still viewed as a risk but an acceptable one. I succumbed to the fright like the SP!
Going forward no risk here holding on and even if CGNPC retracts their offer, the fall back is that the mine construction phase will entail low growth in SP until completion. Then on it will tracks the demand for U and the spot/lt prices. The problem is whether the LT holders want to wait that long as you put it. For those who thinks that this is the last chance opportunity on a tier one asset you would be in the camp of SFR and previously CDU. I am sure in future they will be many more EXT for discovering but right now I will just await my fate. Its in the hands of management and the big boys.
EXT Price at posting:
$8.18 Sentiment: Buy Disclosure: Held
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