yesterdays drop was not pleasant, however if you look at the trading range it was only 0.9 of a cent... Given the current SP, the drop was 9.33% from the previous days close.
When, not if, NWE release an announcement that they have discovered one of the largest gas discoveries in Australia the share price is going to be well above the 10c mark at which it starts trading in 0.5c tics. The share price could move 2, 3 even 5c in a day on normal trading volume easily... So a 0.9c trading range is not going to be so significant as it appears right now.
I for one am pleased with what PM and the team have been able to put together, given Origin valued the EP413 lease at what $80k'ish just a few years ago, and have full confidence in their ability to realise the potential of this area.
What is unhelpful to the cause is bashing the management team about how you or anyone else could have done it better or how woefully wrong they have been going about things...
IMOOC
TY
NWE Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
