Watch this space....often long-awaited ANN's on a stock <5c where the SP has gone up 50% over the past 10 days, don't go off properly until the T+1 holders have pulled out before the margin call. So look out for Thurs-Fri this week IMHO.
Also, the govt changes to the med can rules come into force in November, so although QBL may hover or drop a bit over the short-term, I anticipate that we are looking at a few 80-150% days over the next 10-20 days after Wednesday this week, and then some major rises when the new law becomes effective in no more than 6 weeks from now. That's just my opinion - I have been wrong before :-) . the market is a fickle animal that very rarely follows the rules when expected, and often there are a number of pump n dumps before we find the new base, at which time we will probably get a consolidation.
I believe that QBL management want the SP to hold at around 2.0 - 2.5 in the short-term to facilitate that consolidation and/or a shareholder/institutional offer. Don't forget also that they have an easily-assessed stockpile at surface from which to collect the trial shipment and with the port so close and FOB considerations there will probably be some income from the trial shipment very soon. I anticipate a few more ANN's are coming over the coming days as they provide progress reports such as trial shipment mined, at port, loaded on-board and en route.
I have been in and out and in, and I have had instances of profit and loss since May 2014, but I am, as always, confident that the worst is behind us. Just my opinion.
QBL Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
