At the moment I can think of many angle to look at in terms of why Epangelo or CGNC or RIO or other unknown bidders might be responsible for the share rout.
The latest concerning Epangelo came out of left field not to forget the dateline approaches to the bid offer. How can anyone anticipate anything? We also have shorting in the stock and the evidence are there that the daily % volume is consistently high. Spot price is also falling and we still have not got the mining license approval yet. The resource is HUGE and STRATEGIC, so the stakes are high and all interested party will be using all legal tricks to gain an advantage. I am just surprised that we are continuing to see new levels of complexities added to the volatile mix on a fortnightly basis whether manufactured or natural. IMO there are no clear reasons to sell yet and speculations are rife and confusing with any action to sell or hold or acquire can be validly argued. I acquired a bit more today and hence I am still bullish because it is a strategic asset.
EXT Price at posting:
$7.57 Sentiment: Buy Disclosure: Held
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