Selldown today at open very sharp then recovery in arvo but still finished higher than yesterdays open or fridays close and above the lows of all 3 days since halt lifted. sellers soaked up by grubs. 2 days in a row, seems hedge funds and bankers are buying up any intra day weakness. I expected sell off from Cr to much more severe some on HC saying to go to $3.50 but it never happened.
I think traders lining up for finance announcements or good rates, good credit rating with more cash now and larger facility which should boost the stock toward $5. More drilling results would help too. Whilst i still prefer other NI stocks like POS for low valuation and MCR for no debt high cashflow, SIR is getting some sell recommendations but the market is ignoring these expecting finance news soon. if the CR took 1-2 weeks after the DFS then debt package could move quickly now too.
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DFS Analysis (Comparative to NI Stocks), page-15
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