todays's trading action

We have to get used to small and big sp moves as traders are happy with any profits. Many of us got burnt several times by holding a great stock that was sold down next morning due to overseas market actions.

We won't see anything different until the worldwide investor confidence comes back. Therefore many invest / trade using guides like charts, broker reports or just big buys / sells. Only a few new shareholders, like me from today on, go with the fundamentals and are willing to hold on.

The report just confirmed what we had interpreted and read between the lines yesterday. Prompt the market reacted positive just to see many buyers from yesterday pocketing profits or selling as the sp direction changed after hitting 2.6c. It's always the same and will be.

If you're convinced that this is a gem in the making then holding a core and trading the moves will give you great returns over time. I traded some too today as I was in the front of 2 sell lines. Why not taking advantage of it when some throw their shares cheaper at us as we sold them.


Assuming there are at least 20m still in the bank and about 1.5 billion shares, the cash backing is 1.3c.
The market values the business itself just as 1.1-1.2c, or 18m.

I don't know how much the inground resource is valued but I am convinced there is a lot upside still to come.

If the drill activities are succesful and not stuffed up like SSN's ones then this will be a copy of SSN's early success and 10c could be achieved in the next 6 months.

Again, I am not an oil analyst, just read here and there and draw my conclusions. And that's why I am very optimistic atm.