imo, the buying support has been deflated of late partially due to the fear of further falls on the back of the opus sell down. The bottom appears to have been found as far as how low ppl are prepared to sell, buy side support has been building for a week now.
One another note there is a persistent sell side volume of ~3.2M this has been in place since support was broken at 10c, irrespective of trades that go through the figure has been topped up within the hr. Just an observation...appears to me there has been a large parcel being sold off for some time now. DYOR
The previous ann Re: Matmor trials was a double edged sword, while it shows ECT is progressing their other technology and the $$ invested have yielded a modified induction furnace (a test bench) the results were deflationary in that the trial was effectively unsuccessful even with a high quality feedstock as the output was non-linear,(granted that all that have been following ECT understood that this was the starting point with better news to come). Due to the depressed market at the time it is of no surprise that the news was not taken well. The recent ann showed success in the process at this scale and should revive interest in ECT. Although I don't believe that this is behind the recent buying support atm.
ESI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
