Normally, volume is not something you see building up that often in ESI.
In my top ten by Etrade, I can see
approx 132 Buyers within 10 stops of market price
VS
approx 68 Sellers " " " " price.
Not bad considering that 30Million are probably daytraders/short term speculators winging it on the back of the 5.2C value that our share will trade at in about a month when we issue shares to Tincom for their $1.5M.
After observing the way HCs posters move about, i'd say that we have some transient traders who are willing to hang around if an initial trade doesn't work out - some have discussed it in HC forums which i found very interesting.
And evidently, we have a lot of long term shareholders who have consolidated on the back of the recent news and personally know 1 or 2 friends whom are in more heavily now than they were 2 weeks ago - after waiting for solid confirmation.
Personally, i think that Tincom has made a most grand gesture towards the ESI/VicColdry Joint Venture.
Not only is the JV signed with some usual protective conditions for ESI in particular, Tincom also went to the length of offering and executing a Parent Company Guarantee (PCG) to cover all financial commitments made by Victoria Coldry (Partly owned by ESI, whom are covered in this $300,000,000 Coldry plant construction project).
Finally, we can speak with a certain amount of finality/totality about our ideas.
We did a heck of a lot as a company and our company teams and leaders should be very proud of what they forged here
- before we had that little Tincom carpet rolled out!
I am prrreeeeettty sure that all this explains the volumes of trades in the market.
All this in light of a good announcement, followed up by a Company Plant Tour, however its worth noting that the volume has just thickened up by 25% today and IMO its is looking like another rally is expected by ESIs market.
Thoughts? I'd like to discuss a chart, but i don't seem to succeed with my screen captures.
I Hold, as most already know.
Cheers
L
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Last
0.2¢ |
Change
-0.001(33.3%) |
Mkt cap ! $6.343M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.2¢ | $59 | 29.48K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
61 | 31026071 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 12757985 | 13 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
57 | 29886071 | 0.002 |
26 | 36036532 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 8857985 | 12 |
0.004 | 5910488 | 11 |
0.005 | 4225526 | 25 |
0.006 | 4988567 | 8 |
0.007 | 918333 | 2 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
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David DeTata, Managing Director
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