I think the spike is a result of investors knowing what potential the stock has while at the same time knowing that there would not be much news until mid Jan.
As a result I am sure many sold pre Christmas with the intention of looking to get back in mid Jan.
But I think that given the huge potential due to the new gold project (with more to come), news about BHP for the titanium technology as well as news about the majors in the steel industry investors have been "nervous" about missing out and have jumped back in early.
Most seem to appreciate that just one of four transactions will send the share price towards 20cents plus.
A broker rang me to say that his computer indicates the stock is under accumulation and he "thinks" by one party.
When I last went to the registry I saw a "nominee" out of Melbourne that had accumulated to about 5.0m.
As it was early/mid Dec I do not know if the holder has added any more.
This appeared about the same time that coincides with the BHP program and out of Melbourne makes it more interesting!.
That is speculation but I am almost certain BHP will be on the register within a month or so (if they are not already) as they cannot afford to let this little gem get away.
Either BHP will make an offer for APG or BHP will have to take a position. If they take a position it will have to be a large one and will require shareholder approval.
It will have to be well above market 12 - 15 cents for the APG shareholders to approve. Of course that will be less than the interest earned on the bal in the expense accont of the BHP Exec looking after the BHP/APG transaction.
Either way.......15 -25cents ... 2 - 4 month play
APG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
