WKT 2.17% 11.3¢ walkabout resources ltd

Holding firm

  1. 1,250 Posts.
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    It has been two weeks today since the SP hit 34 cents on the back of some encouraging binding off-take agreement announcements. That day (17/04) there were more than 11 million shares traded and the SP ended the day at 25.5 cents (today's current price). There followed a couple of days of 3 million+ shares traded but since then trading has been thin and the SP has stabalised in this region. In my opinion this tells us that the current holders are hanging on to their shares. There has been no panic selling and buyers will have to start paying the market price if they want to get on board. I'm sure there are more than a few "profit-takers" who sold when the SP was in the 30s who are now sitting on the sidelines waiting for the SP to drop so they can get back in. They will be praying that there is not an announcement confirming a financing deal that allows mining of the graphite to commence.

    However, that deal could be just around the corner - it has been quite a while since the resource update and the off-takes would have strengthened WKT's bargaining position. What do you do, you watchers? Do you hope that the downrampers are right and jump on at 20 cents or do you just get in now before the financing announcement? I am pretty confident that once financing is finalised the MC will be well in excess of $100 million which will then attract other investors and institutional buyers thereby increasing the SP even further. Remember, in-depth analysis (all 19 pages of it!) from an independent analyst valued WKT at 64 cents - once WKT is in production even that will seem very cheap. I will be buying more on any SP weakness but then I suppose there are quite a few others out there in that position too, along with those nervously sitting, waiting to rejoin the party. Interesting times ahead!
 
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Last
11.3¢
Change
-0.003(2.17%)
Mkt cap ! $75.51M
Open High Low Value Volume
11.0¢ 11.3¢ 11.0¢ $18.91K 171.6K

Buyers (Bids)

No. Vol. Price($)
4 786066 11.0¢
 

Sellers (Offers)

Price($) Vol. No.
11.5¢ 113493 6
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Last trade - 15.50pm 05/07/2024 (20 minute delay) ?
WKT (ASX) Chart
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