Further to my comment made earlier I thought I would try and ascertain the approximate number of trade able EOR shares held by what could be considered long term holders and thereby in sticky hands. The purpose of such would be to try and ascertain if/when this stock runs, how hard could it in fact run.
The company last issued a Top 20 including solely the EOR in 2012 Annual Report, then comparing the Top 20 issued in Sept 2016 it appears that the vast majority of Top 20 holders are holding the unquoted EORAI. To the best of my analysis of the 409,810,055 quoted (trade able) EOR shares of which approx 23% is held by either long term share holders or holders that have less than a marketable parcel.
I must admit that I thought the number of EOR shares locked up by LT holders would have been 30-40%, granted there are many holdings that fall outside the top 20 shareholders so that number in all likelihood would be higher. On the brighter side having approx 300m shares as free float is still a low number of shares. This will still mean traders will be attracted as it will offer reasonable volume accompanied by good upside potential.
Today's buying is a step in the right direction. Given that I suspect most holders entry prices are from higher levels getting back in to the 1.2c-1.5c range when momentum changes will not take much buying.
D: Hold plenty
Cheers
Clever1
EOR Price at posting:
0.7¢ Sentiment: None Disclosure: Held
