Excellent news, whilst others are diluting we will be consolidating.
I’ve been accumulating over the last 12 months and it’s been a game of cat and mouse with some entity seemingly wanting to churn the price down. Whenever I purchase they pull the sell side happy for buyers to pay more and then smash it down on a $50 dollar trade or multiple trades. Perhaps they’re just trying to get out of their position or some other reason.
Either way I have been happy to load up at this level but it’s been dumbfounding given the flow of news ie desalination plant, hydro plant and land sales etc that the market isn’t seeing the likely progress of CEIP and DRI plant.
Perhaps management have decided to step in and mitigate the games or perhaps just wanting to offset dilution and boost the sp ready for a JV deal.
Regardless it seems likely the sp will push upwards with 40 million entering the buy side over the next 12 months, try and cap that.
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