Ann: Placement to Accelerate Exploration at Enmore & Lachlan, page-13

Are the ducks lining up for KNB?
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My first post here on KNB. It came up in one of my scan. It looked a reasonable bet, so I have taken a punt..
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So why did I buy here? Few reasons

• First, gold is the flavour currently
• Secondly, drilling has started
• Thirdly, and one that tilted me here, some big punters like Datt taking substantial position
• Land is good, lot of potential
• Company is very active and doing a number of things
• Placement yesterday at 3c for 2m, hopefully putting a mark on price around 3
• Datt keeps on buying, a shrewd played who can make multiples, odds are good
  

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What I am concerned about -

• First, history. Price. Stock was early to mid 1s just over a month back, so has more than doubled already
• Secondly, did a double top at 3.8 recently. I am not a strong follower of chart, but do follow numbers. 3.8 was reached exactly one year back and in this week. It took a long time to come back to 3.8. So lot of things may not have gone right, from price perspective, for the whole year.
• Looking at price, if anyone bought in last one year, they would be up, so possible profit taking can happen around here
• Next Thursday recent 3c CR will come into market. There is a chance, it may hold the price till then.

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If there was one thing which tilted me was this placement at 3. I know Datt bought a lot in early 1s, a substantial at 2.9 and now at 3. A big player dipping third time, I thought I can dip once.
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Personally I bought this week, earlier at 3.2, and today at 3 and 3.1. My average 3.1. I have bought around 50% of what I want to buy. I follow price action. Whatever be the fundamental, if price action is not good, I may take a cut and wait. Otherwise I keep on adding and also play with some of stock, even on daily basis. I like to trade. so keep some for that, and other for long. My holding is not very big as I play a number of stocks, I can see some big players here, so I may not be that influential.
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So what may happen next week? I am not sure how long the drilling is. I tried to find out but couldn't see anything concrete. So we may be dependent on news, or some big buyer. Or someone in the know. Drilling is happening. Some always know a little bit more before and gets a heads up. It can show in price. From a numbers perspective, its important to hold around 3, otherwise, technically not much support. On the up, we have to get over 3.8, for any positivity, for a start. Lets hope we get a good one. All the best.