I asked the opinion of an esteemed holder why the sp is going North and here is his deduction.
He believes the interest is coming from Europe.
He states - If you look at the logic a) all there needs to be known about North West Shelf is known.
So why the buying. They arent buying because better seismic data etc with Kronos; that will flow truckloads, because it is already factored in.
b) the only new thing we know of what market also knows is; that the most up to date 3D data from the seismic down in BRAZIL has been completed for several weeks and the data room is open.
So what is materially different to KAR today that wasnt there yesterday? Simply BRAZIL.
Sounds feasible to me.
why the sp is going north
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Last
$1.60 |
Change
-0.105(6.18%) |
Mkt cap ! $1.279B | |||
| Open | High | Low | Value | Volume |
| $1.63 | $1.63 | $1.58 | $10.72M | 6.719M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1500 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 52235 | 4 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| KAR (ASX) Chart |