The only thing driving it which I can see is market euphoria on expectation of what?, I'm not sure. If' it's expectation of a successful outcome on any litgation against Murchison re Jack Hills, then we must assume that any court case may well take years to resolve, as we know that the courts are chokkas with the back log of pending cases, and Murchison have publicly stated they will vigorously defend any claim by CHM, and Murchison have the money to prolong any litigation, whereas CHM are very limited in funds.
As I said yesterday, I sold out taking a great profit because when a stock goes up as high and as fast as this one has, then it can reverse just as quickly at any time. Personally before I contemplated getting back in, I'd now want to see something more substantial in the way of fundamentals. They only have about $2m in the bank and that could be eaten up very quickly in barristers fees if successful litigation is their only pending 'company maker'. Time will tell of course and I wish those who hold good luck.
Regards...Chas.
CHM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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