" The current activity looks very much like a SP build in order to do a cap raising, can't think of any other reason why the buyer would step up so aggresively. "
I can, and it has nothing to do with a cap raising. Here we have a single buyer who has hiked the share price by more than 300% in a matter of months, and the track record of this particular buyer embracing other investment targets is outstanding.
In my view they have simply done their due diligence on CQT and made a decision to increase their holding. As to judging what limit they will buy up to, well that's a matter for speculation. However, in light of the NPV of Silver Hill alone being several orders of magnitude beyond today's share price, one would think the buying will continue.
Now I know the above comments are very much the same as I posted when CQT was sub 40c - Equally, so are the reservations expressed by numerous posters.
Indeed, it is worth back tracking these posts
The point is, unskilled punters so used to gaining market scraps for a living are a combination of fodder and spectators in this exercise, and will not be fully aware of it until it is over.
In my view, Fridays rise and today's selling opportunity has merely served to flush out the first of the lemmings in the 50c bandwidth, nothing more.
If for instance, one already knew the buyer would take up a position at an average of say, 80c, then its a given the buying spree will continue until say, $1, or more is reached.
Bearing in mind, over a period of three months the buyer is in at the moment on an average of about sub 45c.
Yes I know, some posters in the past have suggested this methodology has focus on the buyer, and not the target company. However I would respond with a 'who cares' approach. The share price is ultimately the vehicle for delivering profits.
CQT Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
