Ann: LCK receives Environmental Approval, page-49

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PennyP

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20/04/18

15:07

Post #: 32589274
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Originally posted by MarketingMan ↑

Disappointing to say the least.

Not enough volume to create a rally.

The buy side is remarkably thin; without buyers fighting for the shares there is no reason for the share price to go up.

Lack of publicity
I think it comes down to clairvoyance - or, lack of it.
Clearly, nobody knows or cares about LCK - lack of publicity.

Nothing in the AFR (they're more interested in sticking it to the banks).
Type Leigh Creek Energy into Google - no write-ups.
The website lacks a succinct sales pitch - key project strengths or market opportunity.

You have to be close to the action to appreciate the significance of the environmental approval milestone; this was the BIG hurdle. It took the government months to process the approval, project lost momentum.

Brokers have yet to get on board
One can only hope that influential brokers writes recommendations and circulate to their high networths (which got us to high teens before the news).

Breaking the $100 million market cap threshold (and staying there) will also help (24 cents).

Day traders bailing out
What we are seeing now is a bunch of traders exiting because they were expecting to ride up over 30 cents - it's clear to them that the share price isn't doing that today so they are getting out. Until they're cleared and others arrive with a fresh perspective - we won't see a lift.

(And there's not many of them - 780,000 shares under 26 cents)

It's not over yet
I am surprised no market movers have pumped this high to make a quick profit (might still happen).

It's not over yet; hopefully AFR will write-up something positive over the weekend and the cavalry will arrive on Monday.

Welcome to small cap stocks; have a nice day.

IMO
DYOR

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The timing of the announcement was not good either. Mondays give a few days to digest. Tuesday and Wednesday are market mover days, but Thursday and Friday its brokers at lunches.

LCK Price at posting: 20.5¢ Sentiment: Hold Disclosure: Held
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Ann: LCK receives Environmental Approval, page-49

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Ann: LCK receives Environmental Approval, page-49

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