I agree positive drill results will move the needle on SP. Acquiring permits and announcing the program will also have an impact on SP, all steps along the way.
Not saying permits are going to 3x the SP, but a few %.
SP opened at 18c and closed a touch under 25c this week. I'd say the market is reacting/pricing in the potential here, that's 38% gain this week. Probably a combination of SUM being oversold and people getting in early ahead of announcements + drill results.
Before drill results are in, good chance the SP will be 50c plus prior to the announcement.
Easily 40c plus on Permits and Drill Program Commencement in the coming weeks if the current sentiment holds.
GLTAH
SUMO, page-337
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Last
16.5¢ |
Change
0.005(3.13%) |
Mkt cap ! $14.24M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 17.0¢ | 16.5¢ | $22.98K | 137.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 60585 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 9756 | 1 |
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| Last trade - 16.10pm 05/11/2024 (20 minute delay) ? |
| SUM (ASX) Chart |