It's been on the minds of a few holders, myself included, about what possible effect - if any - the Kitumba scoping study may have on the SP upon release to market.
In relation to this, I think the JORC Ann day is still fresh in people's memories, with some perhaps thinking "If we saw the SP actually drop after the positive JORC upgrade, then what can we possibly hope for from the scoping study Ann, even if the study is favourable?"
I believe there is a key difference between the JORC Ann and the expected Scoping Study Ann: The JORC Ann was pretty much universally expected to be good, whereas with the Scoping Study, there is still some uncertainty.
I have noticed, that when the market already knows and expects a positive Ann, then it is more likely to play out in an SP build prior to the Ann and a trader sell down on the fact. And frankly, the BTR JORC upgrade Ann was about as easy to anticipate as shooting fish in a barrel. It started building within a two week window before the Ann, and there was plenty of time for traders to casually take positions (including some very big ones), and get all set for some quick money on the fact.
In contrast to the above, when either a positive Ann comes out of the blue, or is positive against some prior uncertainty, then this is a case when it almost universally has a positive effect on the SP. Traders have not had any time to get set in positions, and there is no pre-Ann build up...The positive effect happens after the Ann, and tends to have a more lasting effect.
I have learned the hard way not to make public predictions about future SP movements, but just thought the above observation was worth noting...
BTR Price at posting:
$1.11 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)