Punters want drill results?.From a weekly perspective, KNB had a...

Punters want drill results?
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From a weekly perspective, KNB had a small drop from 3.1 to 3. Nothing much to read there. Volume also lowish, no indicator there.
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So what is happening? The play currently is around 3. There were two announcements, visible gold, first took it to 4.1, next to 3.6. There was a CR at 3. So both announcement spikes have been brought down to CR price. Its very clear - no one is "ready to take risk" on visible results. The market sentiment is very poor. Overall risk appetite is very low. I do 3 weekly reports - Uranium, Lithium and REE - most stocks and sector towards the low. Overall, very weak play in ASX. Even for big stocks. One sector did very well last several months and year - Gold and Silver. Even Gold looks like reaching a plateau. So work cut out to be a differentiator. But due to CR at 3, its a strong hold play. so lot of play happening there, even though it reached 2.8 this week.
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Personally I also playing with risk management. I like the play here, so was in 2 minds. Couple of weeks back I wrote my average was 2.9. In last 2 week s I have got out of half my holding at slightly higher, so doing risk management for now. I have been spooked by general markets, then most risk based assets struggling, and finally KNB not able to sustain gains. When I sell, some don't like. But I want to be honest. I still hold half and am looking for a reason to buy back rest, which I was able to sell at small profit.
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So what may happen next week? I think we have reached a stage where results may do the talking. But for KNB, some big players like to take position, and can change the game. I will be looking what direction is next. I have a small buffer now before I get into a loss, so happy to take risk if play looks positive. But what is positive? If results are announced, it will do the talking. Before that, anything under 3.5, is not much strength, I feel, hence I reduced my holding. I could be wrong. There are many with very strong conviction, and many years dedicated to KNB. I hope we see something really spectacular. All the best.