Typically juniors such a NEN move up on good news, sideways on no news and down on bad news. Any positive news or contingent resource information on block 120 will lift the price only marginally. What will move the SP is news of a substantial find, nothing more or nothing less. The market is so risk adverse that there is no profit in pre spud prices. You have to do your research more so than ever these days to be confident with your investment. NEN, for a lot of us has been a long term play and there is much anticipation on the out come of 105 & 120. I have every confidence in block 105, and I trust the drill bit will confirm this confidence in the coming weeks.
NEN Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
