Another thing that has been on my mind about GRK is that it is a month since the placement at 11c. Today, at least, the shares seem to be tripping thru at 13c on reasonably good volume. especially so considering that the markets are generally being knocked around. From my reading of markets there is usually a lag and time gap after a placement to the market getting started again in a stock.
Over the years I have seen these time gaps vary from a couple of days to a month or so. As a general rule of thumb, a stock usually starts to recover and go back to the pre-placement price (15c) somewhere round 6 weeks after a placement. It takes time for the market to get used to a lower price driven by the placement and the short termers who took up the placement are usually out of some of their stock in a month or two.
Given the time since placement, the upcoming fraccing, news on Hungary, getting the money refund from the world bank mob, and maybe the aussie pollies showing some grunt on climate change and renewable energy then this stock will motor up. I agree that GDY's emerging Habanero success is important to not only it but also the sector.
The politics is the wild one. The CO2/energy/climate change vote is important to Rudd and Howard. Politically they should get great mileage by banging on about developing renewable energy such as geothermal. Lets hope they do like in May this year when Garrett and Flannery opened the odd can of worms.
Last I heard the company was finalising the rig to do the fraccing. Need a good rally up to about 30c to pay for next years school fees for the kids. cheers omg
GRK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
