I believe what you are saying is very likely correct @Yak52, from my perspective SPX looks like it has been sold down into upcoming news. Happens all the time this tree shaking.
Some holders have gotten nervous because of lack of news, and they have become too comfortable with the steady flow of upward price sensitive news of late here.
The news isn't always going to be as positive or steady as recently, but that's not to say SPX is going down to 5c............good line that one.
SPX has a long way to run yet, even if the POG does a correction, SPX is not as susceptible to POG movements because it is an explorer, and as long as SPX can continue to come out with more excellent results like this mornings'.
SPX will continue on an ascending path as long as it keeps releasing numbers like the ones above; it has been a fantastic run here lately, and it doesn't matter if the price comes off a little, nothing ever goes up in a straight line, so don't stress about about it too much, on the other hand if some people want to take profits, that's fine too.
Personally I'm not selling a single one, and will be sitting here for more profit.
On another note, SPX had $4.165m at bank 30/6/19, their planned spend for this quarter was $1.26, so it will be interesting to see the numbers at end of this qtr; but according to the above SPX should still have about $2.9m at bank.
So they have enough $$$ to do quite a bit more drilling before the next CR, which should be at a higher price than where we sit now.
SPX Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
SPX will continue on an ascending path as long as it keeps releasing numbers like the ones above; it has been a fantastic run here lately, and it doesn't matter if the price comes off a little, nothing ever goes up in a straight line, so don't stress about about it too much, on the other hand if some people want to take profits, that's fine too.
(20min delay)