what it does highlight, is that there are no buyers, except those willing to pay less. thats sellers in control of price action.
Buyers, ok, where are they, for them to be in control ? They are either on the fence with no immediate need to rush, pending jewel spud (financed at that point) ? or they are still unaware of BRK.
Interesting that speculation, Gambling, is not punting any buyers into the Frey .
Hence caution is holding even speculators back (risk on betting). If this was a 90% sure thing, that jewel was a $A20-30m cash bonus to BRK, you would have more than the fundamentally backed value through steady STACK play cash flows.
STACK play cash flows demonstrate the success of the drills, if we were to further that side of things. And would give confidence in the methodology we take to SWISH. But the betting floor seems void. Or speculative buyers would want to take a piece of the risk on, entry seat.
So it seems the bet has two parts to it. 1. Will BRK ever drill Jewel ? 2. Will Jewel repeat success with STACK ?
And who outside our fish bowl knows about it, to take the bet ?
BRK Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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