Congratulations to all who made a killing on SIR. Unfortunately I didn't buy as all species I have touched have never delivered and I did not have the courage.
SIR has run well based on announcement after announcement about better and better exploration strikes. Today's announcement proves that the strikes are good and this has already been factored in the SP run to half a billion cap. Unless there are better strikes (which is possible), the euphoria will die. Today's action shows that not many are willing to buy and some who have made a few million may not be able to sell (unless the SP goes up further) as there are hardly any buyers.
Just a caution that when the big guys decide that there is not much further rise, they will get out and you will be left holding your shares with no one to buy them. Half a billion is a massive cap, considering all the costs that go with exploration, dilution to raise funds etc.
Hold if you feel it will double from here, but if you cannot afford to lose the cash think hard whether you want to sell. There are approx 180 million shares on issue, and all the shares are worth close to $3. But if many want to sell, they cannot. There are only buyers for 2 million shares.
Not downramping. I feel that this may go either way. It could also double from here. After all this is a once in a decade discovery.
I know I wll get shot down. But I had to say what I honestly felt.
Brainy.
SIR Price at posting:
$2.82 Sentiment: None Disclosure: Not Held
