Do you want the fact ? The fact is that many holders don't want to get burnt like Courbine case did last time around. So the sudden drop in price saw them selling in panicked (typical amateur investors) without understanding the result and future implication of HDR campaign in Mauritania. Short term traders will surely get burnt away, medium and long term holders will prevail and prosperous.
This discovery has removed a large downside risk of HDR. Not only that it is most probably be commercially viable as it will tied back with Chinquetti development. It has also confirmed that Mauritania is the next BIG petroleum region.
Professional investor will patiently wait and pick up some more shares at this lower price. I'm sure about that.
I'm confident the price will be above 85 cents by the end of the week.
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Held