and maybe, just maybe ... the sellers will now hold off in anticipation of this long awaited JORC (seems that way atm!)
it is obvious the sp price was sold down to 2c to 'accommodate' the recent CR
2 august ann - $900K raised about 60M shares (do we know the exact number yet?) @1.6c would = $960K less costs etc and free lunches
will these lucky punters all sell? time will tell. 4.3M+ volume so far today, 2M+ (?) yesterday ... wouldn't take long, especially if the volume picks up as we get closer to the JORC
not massive dilution and they have obviously raised just enough to get them thru the JORC ... and hopefully get them into 2013. certainly also a bit of cash left ($1.3M odd as at 30 june) from pre-CR
all announcements this year on drilling results have been very good (although as stated by many the wording could have been much better to get people excited and catch the attention of potential new buyers)
eg - excerpt from 8 august announcement: "High Grade Arganara Phase 3 Drill Results • Results for the final 52 holes received • 35.4% phosphate (P2O5) intersected in hole ARC606 • Resource Calculation Underway"
plenty of upside in NUP
bring on the JORC
NUP Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
