Yep Wolfie, it could be that most certainly, or any number of other things, or maybe just traders, I don't know, but I did expect it to hold the $4.60 price, so I'm a bit puzzled (which isn't unusual for me these days).
I'm like you, and get the feeling that there doesn't seem to be a hidden buyer out there watching for a chance to jump in and bid, but we never know.
SXY has such great potential, given Australia's gas led recovery, and the potential to use excess gas to create hydrogen. I guess the only thing going against it is the government cap on East coast gas prices going forward. It would be great if they were getting the LNG export price, but it won't be so.
If I was someone like Woodside, I'd jump right in here, it's only peanuts for them. I'd expand production quickly down the East coast and into the NT, also explore for hydrogen and helium content, and build a hydrogen plant for processing blue hydrogen, look at a getting a terminal birth, and export to the pacific island nations, and do some East coast carbon capture, and do your bit for climate change. It would be a great project for a new innovative unit within Woodside. Unfortunately, it won't happen, because they are only interested in BIG projects, so I'll stop dreaming.
And so, I am reluctantly expecting this deal to go through now, but I'd love to see a twist in the tail, it's what makes investing interesting and gives us things to talk about.
Gw
SXY Price at posting:
$4.47 Sentiment: Buy Disclosure: Held