Somewhat surprising price dump today down 8.2%, against the trend with most other csg companies such as BOW which is still climbing steadily, up 11.8%. Decent price cap at 48c now I note.
I wonder if this is a play to force the oppies out of the money by the end of March. The only reason I can see for this is to drop the cost of a future TO bid (less options exercised... less shares, less WCL money in the bank). An alternative view is this a market move is to force fearful option holders to dump them to the market prior any company announcement........ it's going to be an interesting month :)
I can't see any other reasons for a price decline at the moment, given that BOW and WCL are considered the best 2 Queensland csg companies after PES.
Worth buying in at this level and taking a nibble at the seller on 48c (if he hangs around)
WCL Price at posting:
34.9¢ Sentiment: LT Buy Disclosure: Held
