buying support

There is a lot of buying support even though EOC is thinly traded. Only 120k shares on the sell down to 56cent compared to the 900k buyers. Buyers are spead down to 40s but that is wishful thinkers looking for a market correction.

WAV and CLR had the same narrow market depth but look at the price. The director believes EOC will be trading up near CLR soon.

Xtrata is looking for takeover targets and EOC would be an easy buy. My guess is that CLR will prove up more coal in the EOC JV and both prices will rocket. Fund managers dont take a large positions in juniors unless they see fundamental value.

Carabella is frightened that they will be taken over,with WAV having such a large holding in the company.
The fear factor indicats the directors really believe in the project which is likely to extend into EOC JV tenement.