There are about 325,000 shares on offer from 30c to 36c,mostly small parcels between 10,000 and 40,000 this suggest to me they are short term spec traders.
The insto buys went through with the big volumes ie; 1mil to 6.3mil turnover days, they added to thier positions on the way down from the peak and got most of the monkies out of the tree on the way to here.( i know i bought more )
So we have a few spec traders looking to pick up 30-40c and the long term holders that are looking to pick up $$ The insto's will more than likley buy more as the project is de risked and be happy to pay more but that wont happen untill the resource up grade.
Basicly there is no difference in the company now to a couple of months ago, we still have the same infered and indicated resource but we will have an up grade soon. I believe that from there on it will become more interesting as the port, rail and MDL are taken care of.
Short term traders get pretty excited about daily share price, where as the long term traders get excited about mile stones.
W1 if you are a spec trader your day will come and you will pick up a handy profit but for me i will wait for the dividend, fully franked i hope.
I hope you have found this interesting if nothing else and good luck.
Cheers, cab
EER Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
