I think the shorters are expecting the SP to drop considerably further. I have written recently that an SP of 15 cents may be an option but really it is hard to estimate, it could be much lower. Shorters usually win. If they were piling in at 19-20 cents then where do they estimate the SP is heading? In the event legal action goes against the opposition, and Fremilo crown their own government there could be spike in violence so severe that the viability of Balama is threatened. In that case the bottom on the SP could be single digits. There are just too many unknowns on how this may play out. Could be very, very bad, could not be.
SYR Price at posting:
18.3¢ Sentiment: None Disclosure: Held
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