SP has fallen imo because after a decent rally and great news of recent result, holders are still very cautious and rightly so imo about the next couple of results hence the sustainability of it all.
Also the fundamental of this stock prior to the recent success was really poor. SP flat since 2008. Cash almost gone. Board make up is of finance people not hardy miners lol. Was very much looking like a lifestyle cash cow for the board to be honest. Finally starting to reward holders. So was well and truly an ugly stock prior to results recently.
So a lot of long term holders would be selling as they know how hard being a holder of this company was continually over promising and under delivering with cash problems.
So for me is essential to have 2 more significant results from processing then this stock is away and 1.4c would be a bargain. But if next result not so good holders will bail in my opinion. Cynic’s might say they hand picked first tonne of ore to get market moving. Remember high risk/reward stock. Lots on the line here.
In my opinion that’s how the market is atm. Cautious. I would expect the board to market and media the story daily if haven’t done so. I haven’t read a lot about the success so again in my opinion the board should get cracking. GLTA and fingers crossed the sustainability continues then all round.
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3 | 873372 | 0.010 |
2 | 350000 | 0.009 |
Price($) | Vol. | No. |
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