Very surprising for stock to be taken at 0.6c on the day when the shares have gone ex rights entitlement.
The gradual fall in share price over the last few months has had the effect of having a large amount of shares held by disgruntled shareholders going into much stronger hands. In turn, the turnaround in share price will be much stronger.
As previously mentioned the options are much more tightly held than the ordinaries & therefore on any upward move we will see a larger percentage move in the options.
We should hopefully have a very exciting December in this cheap stock.
Upon commissioning of new plant & success in finding a few larger gem quality diamonds (10ct+), I would expect this stock to be re-rated by the market. We should then see the ords @ 2 cents+ and the options @ 1.5 cents+.
Not a bad risk/reward punt at these levels.
MED Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
