I understand that all remains on track - the June site visits are about to happen which should be the final stage of the process for interested parties.
Meanwhile there is a steady tick of people converting their options which keeps topping up the cash balance and nudging the cash runway forward. So, they have the time to do this properly which is ultimately in our best interests as shareholders.
Yesterday was a strange day trading wise and a soft close, but again I think you are correct that all the trading of late is accumulation - solid bidding and good volumes interspersed with a lot of small trade activity to keep the price at / around these levels. It would not surprise me if we just bounced around in a 1.4c to 1.7c range for the next few weeks before things start to pick up again with news or speculation of imminent news (insiders).
On the technical front, this (1.8c) is a natural point of resistance as per the chart below where this level was support in June 2023 before it fell through and then became resistance in November / December 2023 and again now. I always expected it to pull up at 1.8c and bounce around a bit before it punches through.
This all not a bad thing - flush out weak hands now with new holders coming in at these levels, so when the news hits the bounce is likely to be stronger with less initial selling. Thankfully, we don't have as much tax loss selling to contend with this year, as anyone who bought post December 2023 is in the money or breakeven at worst.
STM Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
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