No surprise here that this has underwhelmed majority of Hot Copper user's expectations this morning, after a nice gap up at open.
Please, don't get me wrong, galaxy spruikers - those of you who are quick to shoot down anyone's opposing opinion. I am a holder and believer of this company and believe when all 3 assets are producing we will be trading at $12 minimum.
IMO, the reason why we fail to get up, and why we are so heavily shorted is because of the lack of communication to the market.
The hysteria of some people on here during the halt and prior to this morning was humorous to say the least. Everyone loosing their minds, calling for all shorts to be burnt, celebrating like Christ himself has risen from the dead.
Did you really think that the announcement this morning was going to make the price rocket up 15% today?
The market knew we were going to get the cash. Blind Freddy could have told you there was very little chance Posco would pull out, given their new CEO appointment. Naturally this was priced in weeks ago (albeit undervalued).
IMO, what I was hoping for in the announcement this morning was some new, material, substantial information regarding the progress at SDV.
Does anyone know how far along we are at SDV now?
When is first production scheduled?
The answers to these questions is what will place a timeline on our expected earnings to increase, and thus our market capitalisation. IMO.
The answers to these questions are what will make the shorters sweat.
Until then, I cant see us breaking free from this stagnation where shorters are able to exploit the uncertainty created by lack of communication.
All IMO.
GXY Price at posting:
$2.91 Sentiment: Buy Disclosure: Held
