MTM lost half cent to finish at 11.5c. Volume was high as to be expected on an announcement, just over 6m shares traded. . ASX REE stocks were also not feeling good. Of the 26 REE stocks (list in my Weekly Report) that I track, on average there was loss of 1.5% . So we got an announcement, opened strongly but it fizzled out. I think the announcement was good. At this stage of early drill I am not sure what else to expect. So the results to be in around 4 to 6 weeks. Maybe many thought that there may not be much news in the interim hence stayed out. There could be more announcement from the next few drills meanwhile. . So its now wait time for assay results. Each of us will have their own strategy how to play. As I have mentioned before I am cautiously optimistic but generally don't like this phase of 0/1 state - hence try to balance it out in terms of exposure. . So what will happen tomorrow? Not sure. There seem to be some with strong conviction. Announcement was good, so some may join to take up the chance. If the results are very good, there is a chance of sp appreciating a lot. The reverse is also true. But at this stage Lachlan seems confident and hopefully in next few days and weeks if anything positive is happening, news may trickle and we may see the rise above 14 which we missed today. Will that happen? Lets hope so. All the best.
MTM Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
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