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There will always be a certain amount of selling especially...

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Tetris83

372 Posts.

12

23/08/18

16:07

Post #: 35131979
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Originally posted by Motors ↑

Yep, a period of consolidation, hopefully limited to 5.4/5.5 cents, is upon us. Remember this was an enormous raising and to be honest LT holders thought it was going to happen at a MUCH higher price, closer to 10 cents.

Some 225 million shares get issued tomorrow, the Apendix 3B will appear like an enormous poo across our screens and then moments after that the stock will be freely tradeable on the ASX & ChiX. You can guarantee a decent chunk will hit the screens immediately, I am hopeful the buyers have been lined up 5.5/5.6 to absorb it.

Calima specific news flow is going to be very limited from here and Dec 18 is a fair way away. I do see room for outlier positives like M&A in the Montney, although we don't seem to have had any correlation I can see with the Canadian listed Montney plays. A strong Oil price would also be helpful.

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There will always be a certain amount of selling especially after a large placement . Just keep eye on prize and watch daily volume , its easy to tell who are the long term holders of stock and can calcaulate how much loose stock there is in the market place

CE1 Price at posting: 5.7¢ Sentiment: Buy Disclosure: Not Held
1 Upvote

0 Great analysis

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