Slim - couple of reasons why there was not a huge jump in the SP IMHO.
Firstly, we got notice that drilling has commenced - but the real impact on the SP will come in two or three weeks when the results of the drilling are announced. A high percentage result - with commercial quantities - should see the SP rise to a greater degree.
Also, we still have the issues that affected the markets over the last few weeks. Mainly international tensions and fears of significant interest rate rises. In fact, the DOW is about 300 points down at the moment.
Good strategy of yours to buy more - and for the reasons you mentioned. Everything with spec shares are a risk-reward equation but BNL seems to be ticking a lot of boxes.
BNL Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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