Last announcement said drilling in Merredin would recommence early/mid Jan and be completed late Jan/early Feb.
This looks to be the window to accumulate in if you're feeling bullish about the drills prospects (which I am) thinnish volume, very low spread trading for a couple of days, plus a big bite of options through today, things might be beginning to simmer... Looking at the buy and sell side I suspect there's someone trying to keep the SP in a channel for some reason, massive sell at 0.215 and reasonable buy depth below 0.185, and it's been that way for a while. Options have meandered a little but have decent support at current levels.
Would love to see slow build in SP, up to announcement about completion of test hole (and hopefully a big contract or JV!), I heard someone speculating that the gt3000 might even be transportable by heavy lift plane, I think that's highly unlikely, especially given the ancilliary equipment needed for it to actually drill a hole, but imagine the PR if an overseas multinational was that desperate to try it out!
Now what we really, really need is some nice communication from Nanne et al, eg Drill back in Merredin and set to drill on X day, and then a weekly depth report, just to keep us all informed and reassure the market that this company can finally deliver the goods on one of its techs. Even better would be another Woodside CLRS job!
CKK Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
