Green days are always good however I do suspect that today's action was less to do with impending news and more to do with the price action drawing a number of smaller players into the market. Trading action was not indicative of a major player and anyone with an inside runner IMHO.
Having said that there is plenty of information pending ... offtakers would be good. Interesting to hear the thoughts of the people with steel industry experience and contacts. Certainly from my world (debt and ccy markets) we are seeing a pretty decent recovery in risk appetite over in the US which only bodes well for AIM raising that final component of debt for the project.
I still believe that the markets are not out of the woods yet however I think that conditions are improving in such a way that AIM could be able to get the debt issued out into the market in the next month or so (certainly assume they will try to do this pre AGM which can't be too far away).
Offtakes would be nice ... drilling results will re-rate the company however IMHO the debt situation will secure the company's future ... once set in place the price will start that long grind higher. We still have a long way to go though!
AIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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