Interesting SP action, punters buying on open and someone keen to trade out on the bit of volume, punters bailed once a bit of selling came in. Very low market volume as week before/of Christmas so lacks the chance to get a big surge on like was seen off the back of the July announcement (even though this one is more important). May have expected a stronger opening in normal market conditions with more volume around. At current price (22.5c or +5%) the "Market" is not treating this announcement as adding any value or further de-risking the opportunity, it is just status quo... A bit like it was already a foregone conclusion that this result was coming.
Question is however, was this news actually priced into the MC. Will wait patiently for next results in the new year.
NYR Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)