IMO they know based on the drilling, how can they not? This is what they do.
Following today's trading and good input from all here on HC my view is as follows:
Today's results are confirmation of the Cummins Range prospect which did not provide any upside based on the fact that we already know what we already know. To my surprise the share price dipped on good results. Why? Those expecting better than simply confirmation have taken a little profit, a lot of this could be those from the CR, I've done that myself on other stocks. Well played and I hope you have made some good coin, that's why we are here.
The SP has maintained its range albeit at the lower end and unfortunately has created a slight downward trend. Not ideal if you don't plan to top up or enter. But will this be the opportunity where the spare cash capitalises? A few stop losses hit quickly create panic and early exits with slight losses. Is this now a ripe opportunity for those with a crystal ball or perhaps more insight than others.
As per the chart below we started gaining momentum in October then lost it lost it around the end of Nov which indicates that some traders may have had an expectation of today's results being as they were, simply confirmation of the known. Incidentally the slowdown in momentum was roughly when samples were sent or at the lab, interesting situation and make of it what you will. I am a pessimist and have my opinions on this.
So for the next month or so things could be sideways with possibly some lower pickings for those optimistic about WN or have a clearer crystal ball than I. Keep an eye out for some healthy chunks to be picked up.
In summary I think initial on-site visual inspection of the WN drilling may be good based on the fact that today's results which are not to be sneezed at and have propelled other juniors SP have resulted in the SP going down. Loose and smart hands at play here?
WN is still a good prospect IMO otherwise we may have seen some significant selling into the bids.
This is totally an assumption based on the SP dropping by a significant percentage on very good results. I have tried other scenarios in my head but it just doesn't make sense any other way. Happy to hear what others have to say.
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Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $8.809M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.1¢ | $22.38K | 1.895M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 1972669 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 499284 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 1972669 | 0.011 |
8 | 6015062 | 0.010 |
2 | 517000 | 0.009 |
3 | 734383 | 0.008 |
2 | 280000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 499284 | 4 |
0.014 | 1676234 | 10 |
0.016 | 312409 | 3 |
0.017 | 500000 | 1 |
0.018 | 1859841 | 2 |
Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
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