From the selling perspective - I dont know why anyone would want to start letting go of stock on the cusp of a re-rate , but each to their own.
I dont have visibility on buyers but speculate that this is very much local and indivdual investor(s) as the price and volume action is not happening/being led on the US exchange, and the project to far away from production for it to be a play on rising gas prices.
If was local institutional action I think the volumes would be higher. Then again maybe because it is relatively thinly traded to much at once will overcook the position taking? If it is instituional position taking - then its being done softly and will continue for a while till decent volume acculmulated.
But back to my guess - local individual action - driven by commencement or imminant commencment of pipeline connecting work, or progress on farm in discussions, rather than a lagging assessment of initial IP30. Following the chatter about Blacktip, could be something dire going on there.
Good luck to holders.
TBN Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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