Well yesterday's Sell into the announcement trade after rally 30% into it has developed into a short term reversal pattern with further weakness today. it is clear the market will not pay above 20c until the Tanzanian free carry has been confirmed. it has been to 20c twice in recent months and been rejected. I'm not expecting much buying pressure until this is announced but hope I'm wrong The 20m Posco pre pay has been factored in. Need the govt agreement sorted then the largest risk has disappeared, should rally hard , ready for financing and a credit raise much higher than here .
BKT Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
