The point is the following;
Before the company brought a sample to surface many would be concerned with whether this is possible (porosity/perm issues etc.) information withheld /not released to market as well as other factors that would be a concern. Therefore to buy in post discovery at a slightly higher price averaging up would make sense.
All significant/larger funds are essentially averaging up (from where they would have been tempted to enter (requiring confirmed data to de-risk and pass investment committee) following information flow that de-risks the prospect. That is the point.
The point is the following; Before the company brought a sample...
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Last
7.0¢ |
Change
0.002(2.94%) |
Mkt cap ! $99.25M | |||
| Open | High | Low | Value | Volume |
| 6.9¢ | 7.0¢ | 6.8¢ | $104.1K | 1.514M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 191400 | 6.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.0¢ | 426161 | 6 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
6.9¢ |
Change
0.002 ( 1.47 %) |
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| Open | High | Low | Volume | ||
| 6.8¢ | 7.0¢ | 6.8¢ | 458792 | ||
| Last updated 15.46pm 10/05/2024 ? | |||||
| IVZ (ASX) Chart |