Someone is trying to accumulate, there was a buyer at 34.5c on Thursday/ Friday, trying to snap up every seller, until someone came along and pushed it to 38. Shortly after there were buyers lined up at 37, 36 etc.
At ~$33m market cap, this stock is a pretty cheap way to get some exposure to a good quality coal asset.
Another plus is the capital structure - only 83m shares on issue with 50% or so held by top 20 shareholders (as at last year, may have been some movement since then but will have to wait for the accounts to come out).
I believe this can run up pretty quickly on some good news.
As always, DYOR.
AYA Price at posting:
40.0¢ Sentiment: Buy Disclosure: Not Held
