I think the peak was 5.4c today. But I suspect if you did pay that today, providing you stay the course we will see it test that level and surpass it, and probably sooner rather than later. I took a bit of a risk selling into it yesterday and this morning, as IMO I think it's going a lot higher ( I've pencilled in 10c within 12 months) once they announce a few more contract wins. They have the momentum to do that, and buying back your own business for a song after selling it for $15m to a major - I agree it's an "Alan Bond" moment.
I was surprised how hard it ran yesterday and early today, and quite surprised it made it all the way back to 4.4c this arvo, both times with good volume. I suspect there are a lot of HC players in there now.
Business contracts are hard to win now, just before Xmas and January. You would think it might drift back, but I hate going liquid now and miss the Xmas rally and the January effect. Let's face it, at this MC it could easily double and still look a reasonable play to newcomers.
CNW Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
