Looking at the SP movement (starting slowly and going stronger later) and the the volume (not only today the volume seems interesting!) I would say that the one or other has made up his mind over the weekend.
Even if I repeat myself:
PFS is just around the corner. Indications that the PFS is rather on the positive side are existent. Drilling result released 3.5 weeks ago was stellar - and strong indications that next drilling results might be in the same category (if not even better - and if better - imagine the impact!). Latter surely with an impact on the overall ressources and specificely on the copper tonnage in the high grade core. The news pipeline is still "abundant". We can expect further drilling results, good news from Perkoa, plan for drilling campaign 2014 Kakozhi, exploration results from Burkina Faso...new MD....and more I guess.
In addition mood towards mining shares is improving compared to a few weeks ago.
....and just to make it clear: nobody hear knows what the outcome of the PFS is. Let me just make an example...let's assume that the outcome is: set up cost for the operation: A$ 400m, Net Present Value: A$ 800m, Return on Investment 2 years. Mine Life: 10 years....what do you think would happen then ?
We will know it in a few days !
As I said before: I think that a positive PFS will bring us back to the 60-70 cents level. Further excellent drilling results are then the salt in the soup an might trigger further gains. Ressource upgrade later this year will then push us back to the A$ 1 level.
Who knows....maybe in 12 months a lot of people will look back and just realize how cheap BTR was at 50 cents.
BTR Price at posting:
49.5¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)