Fortunately my exit was 75,[email protected] and75,000@27cents. All my entry were 27cents. Made a small $1k.
At the moment the support is extremely weak. I think there are 340,000 units to buy and the sell side is 6.7million. I know there are 4 million units that has been sitting at 36 and 38cents which may not be real. There is not even interest to at least prop up the buy side.
Just on my views there is going to be plenty of points to re-enter in the next 2-3 months.
Just my views is that there was something in the pipeline (there seems to be accumulation for about 4 weeks) then this is now clearly gone. I suspect that at some stage a "Joint Venture" was in progress but for some reason is now either delayed or not proceeding.
There was one person who said along the lines "there was like a dump of 800,000 units that sent the share price to 28cents....surely the buyer is thanking them" I saw this too and thought the exact opposite "why must you be in a hurry like that to sell everything ... its always better tofilter slowly to get the highest price".
While some would say Nkwe is a bargain or a steal at these prices...however fact is that the share price is weak and there seems to be minimal support. By probability (which can be wrong) suggests that short term it will drift downwards.
With low cash reserves I can see that Nkwe will have to do a capital raising soon (within 1-3 months).
With the options I never had the balls to buy them last time I got the shares. All the talk of extending the options exercise timelines are not yet confirmed. The indication of a yes is once again through unofficial communication lines to only certain shareholders.
Look where the recent "hype" of Joint Venture got ... absolutely back at square one.
On the fundamentals front nothing has changed. The reserve is there. The platinum is sitting in the ground. Then again everyone who is in Nkwe or a follower knows its potential. Fundamentals is not going to give this stock a massive re-rating. Only a firm corporate development is going to do this. If management cannot deliver this then its going to be painful short-medium term.
Hoping to get back in Nkwe in the future but sitting on the sidelines for now.
Lets hope that everything can turn out well for everyone eventually
NKP Price at posting:
24.5¢ Sentiment: None Disclosure: Not Held
