Problems is CXO is only $27m MC right now, KSN is really rightly valued based on that since KSN have yet to release anything substantial. Yes it's cheap at $13m MC but if KSN is cheap that is level then what's that make CXO?
Patience is needed with both.
Volume and supply has been dropping significantly, highly doubt it will drop to the mid 1c region, but perhaps might find a shakeout attempt to find some supply and demand.
Haven't really commented lately as there's not much to comment, low volume pullback (look up the term), bouncing off support levels, it's in a current downtrend which is following CXO. When CXO starts moving on more solid/higher volume and pushes above 10c and back to 15c+ then KSN will follow, unless KSN releases news before then and can push up on it's own merits.
If it drops further, unlikely to be high volume, as we are already witnessing, it's been very low volume supply even at current levels.
Most who wanted out have already sold out, maybe a few more who will be tested and get anxious seeing it at 2c and if it drops on small volume lower it could trigger stop losses or cause some nervous holders to "protect" capital and sell out. Funny thing is nothing has changed and those that end up selling in panic in such situations end up buying back later when FOMO kicks in and pay higher or they buy on the next high and lose again because they bought when they should have been selling.
Anyway I'm not concerned, the catalysts for the re-rate will come soon enough, whether that's from the land next to CXO or from next to GXY.
Cashed up and tiny Market Cap.
KSN Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
