those looking to make a quick buck have finished selling out;
those who invested sometime ago and have been waiting for the volume to increase have taken the opportunity to get out;
people who are informed investors understand KKO have met their project milestones; and
people come to realize this is the best time to get in and don't want to miss out on the inevitable uptrend.
Why? At present we have maiden reserves, vast prospective reserves (largest onshore gas project in SA), strategic investment (from a private investment company where one of the Directors is also the CEO of Sasol and others are key political figures in SA's energy and resource sector), acquisition of JV partner/full ownership of project, plenty of cash on-hand, SA Industrial Development Council commitment for additional funding to further develop project, low additional well cost/unheard of favorable geology (as noted by CEO of SA's Industrial Gas Users Association), all required exploration rights to facilitate relevant aforementioned points.
Among the next steps we should see additional certified resource. They have been announcing new wells as showing strong gas flows and have previously noted that the ongoing drilling has already superseded the Sproule report.
KKO Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
