Volume last couple of days is higher than normal so there's some churn through. This is good as it'll clear stale holders but also tells me that there's folks/companies paying up to get a position. Let's see if there's any substantial holder notices in the next couple of weeks.
If IGO is grabbing some stock and farming in, maybe NCM will want to grab some more to solidify their position. They are in reality competitors after all. 19.9% would constitute a blocking stake by either party and allow room for negotiation if this company is holding some good assets which looks extremely likely. Think AGO with FMG and Hancock Prospecting. The chess pieces get moved around the board.
Of course I could be totally off the mark and talking out my butt hole but based on the ground held, recent activity and deals negotiated, people like Paul Ian Chapman on the board, things are lining up nicely.
It won't happen overnight but as the picture takes shape it could get pretty exciting.
ENR Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
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