Looking from a charting perspective, we have been in a sideways creep since we hit over 0.24, we should see more demand on the buy side and less selling on the sell side. Sounds basic but we are very close to the next move up. The 200 day moving average is trending upwards and definitely highlights interest. The 20 day moving average looks set to change in my view.
A good time to enter again as a trade also. Buy at 0.17 and sell at 0.24 gives a quick and tidy profit. Personally, I tend to hold stocks like these and accumulate until I have a decent holding. There is a great outcome predicted for Comet Ridge and this is how I see it:
Comet sell their 57% for around $0.55 (conservative) -$0.90 (upper range) per share, then go it alone on all other fully owned projects. Comet will be fully funded and steam ahead on opening up the new resources and become a serious gas supplier.
Comet retain their 57% and issue a dividend from gas sales and Santos fund the next steps for the whole resource. @Blade2008, @antiques of Wood, @ghoti, @cmark, and others, how do you see it?
The East coast has a massive gas shortage and prices don't seem to be going down anytime soon.
Are we in the perfect storm, shiit yeah! IMO.
We need 20 strong trades to get this moving fast.
COI Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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