I have a new theory about what most especially I have beating a drum about - being BMN's lack of any market communication.
BMN are trying to move from small cap speccie to a company that will attract large money. In doing so, there has been only a focus on communicating the project is derisked.
One of the things a large fund would be looking for is a stable company and share price. BMN have moved away from playing with market sentiment with news, not attending conferences, to the point of not communicating anything that is not very stable data. As such the SP has not peaked but also didn't fall like we know it can so they may very well be achieving what they are looking for.
I wonder - just a theory but it appears to be working and we will know if this is the case soon enough. Today there were some big boys buying, perhaps one of the big boys are liking the stability. As stated over the last couple of days, for mine this is a BUY.
BMN Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
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