Well I am waiting for it to hit 35 cents before I buy more. Averaging down would be sensible on this one at present.
The whole market looks like it will get a good shakeout. Even though WCL has not moved for about 5-6 months it can still fall a lot if the market retraces back to the much lower levels of May.
The whole CSG sector is very speculative, and for the tiddlers we are all waiting for a white knight to buy us out at the sort of price achieved by Pure Energy in a very compressed timeframe.
We could be waiting 10-20 years, just like those investors in WPL had to.
Stockanalysis has WCL as its cheapest CSG play, so I will stick with it and see what the Galilee tenement shows.
loki (in for the long term?)
WCL Price at posting:
35.7¢ Sentiment: Hold Disclosure: Held