I think those tiny little trades are just instos trying to spoof the market near the close when the spread gets large like that. Tomorrow there will likely be a spread setup around this new close price to make it look like it’s the new fair price in the hope of possibly sucking in a few people to the apparent upward momentum. Look for small bids at high prices and really large bids at way low out of the money. It can look very convincing to new players who then start to follow these bids up.
I really want to see this start moving on real volume. I think we will when this permit turns up. At the moment I think many punters don’t even believe it’ll ever happen and that’s why the SP ain’t moving. Expect a good jump up when it happens and then a pull back again until we start actually getting some helium out of holes. Then we gotta prove resources and go through PFS and DFS and on and on. One day we might even pump the stuff commercially. Or just get taken over. With any luck though as we go through these motions the SP will continue to rise as it is supposed to reflect the derisking of each step.
at least, that’s what we’re all hoping will happen. Good luck punters!
BNL Price at posting:
3.7¢ Sentiment: Hold 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)